FW: How to cancel imbalance amounts

ryoung1 ryoung1 at paradise.net.nz
Wed Nov 16 19:39:07 EST 2011


 

Sir/Madam

 

New to GNUCASH I have just completed data entry of assets, including a
significant number of share investments. The resulting asset total is
correct as confirmed by independent records. No liabilities have been
entered at this stage. The GNU version involved is 2.4.7 (build 2/7/2011)
working through MS Windows version 7 professional.

 

Things should be simple enough, but I am left with a large 'imbalance
amount'. Using hypothetical figures to demonstrate, I have total assets
$20,000, imbalance amount $5,000 and a difference figure of $15,000. Reports
are inconsistent in their portrayal of these values.

 

1)     In the Accounts report 'Equity' appears as $15,000, 'imbalance
amount' as $0.00, and commoditiy 'grand total' as $20,000.

2)     In the Account Summary Sheet  'Equity' appears as $15,000, 'total
assets' as $15,000 and 'imbalance' as $0,00.

3)     In the Balance Sheet report 'Total assets' appear as $16,000,
'equity' as $15,000, 'unrealised losses' $3,000, and 'total equity' as
$12,000.

 

In the 'opening balance' account there are quite a few entries where share
accounts are correctly named but show no dollar amounts denoting value of
investments in the credit column. Yet share names and dollar values seem to
be correctly stated in the register of individual share accounts. 

 

I am very familiar with investment and general accounting procedures, but
not with computer programming terms and concepts.

 

Could you please explain procedure to normalise the reporting. GNUCASH help
files note that imbalance amounts can be eliminated with the Actions/check
and repair utility but that leads nowhere.

 

I do hope that there is a simple answer to this. Your program is powerful
but familiarisation is time-consuming and not for the faint-hearted. 

 

Please redirect this enquiry if it is not within your area of expertise.

 

With thanks and regards

Robert Young

Email: ryoung1 at paradise.net.nz

 



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