how to record an opening debit balance in a credit account

[Dennis Powless]

Start with the opening balance in your CC statement you want to start
with.  In this case the Jan one.  Yes, you will use the equity:Opening
balance.  Your first transaction will be the current credit card and
the expense account you will track the particular expense from.

Then read up on how to reconcile and account and or people here can help.

Good luck, and gnucash is a great program.  Sometimes the help files
are a bit too general to help, but stick with it for the long haul.

Dennis

On Sat, Mar 19, 2011 at 11:36 PM, jay <nav1490 at yahoo.com> wrote:
> I just started using gnucash and this is the first record I am entering in my
> credit card account - for January.  Since I overpaid in the previous month
> (December), the January statement shows a positive balance in the credit
> account.  I want to start tracking only from January.
>
> 1) How do I enter the opening positive balance?  I tried to transfer the
> balance amount from the Equity:Opening balances account, but I'm sure if
> this is correct.
> 2) Then, I made only one purchase in January, and I need to record that too.
>
> Thanks in advance.  Jay
>
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