Question about Assets as reported vs account balance

Joost 't Hart joost.t.hart at
Thu Jan 6 06:59:37 EST 2011


Looks like I am not the only one struggling here...

Roughly: Unrealized gains follows from income -/- costs in the 
profit&loss report.

In the simplest of all circumstances, the value of your assests will 
have increased in this case, and to keep the balance even, the amount of 
gains must be added to your initial equity. Indeed.

And this is what GC does at my end. There is no account as such; it just 
follows from the others.

If your balance _is_ even, I guess something has gone wrong in your book 
keeping. How are your increased assets being compensated?

What I am still looking for is how to xfer the unrealized gains at the 
end of the year. The become "realized gains" and should end up at some 
equity account.

I do not know how to accomplish this, preferably without nullifying 
income and expense accounts...

For what it's worth it; cheers,

On 01/06/2011 12:42 AM, Jay Ridgley wrote:
> Folks,
> Can someone explain to me why the Account for assets shows about 
> $60,000 more that that shown on a Balance Report? As far as I can tell 
> the difference is unrealized gains, however, should that not show on 
> the Balance report and be included in the Asset total?
> The Balance Report is not out of balance. Just the accounts...
> Is there an account for Unrealized Gains???
> Cheers,
> Jay

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