Grand Total in Transaction report

Sutton Hill Church shchurch at visitnz.plus.com
Thu Jul 19 04:14:51 EDT 2012


In an earlier query I stated I am a treasurer of a club which receives some
of its income from members in envelopes.

 

Because the club is classed as a charity, I can claim tax from the Inland
Revenue on some of the envelopes. For this reason I have to keep separate
records of the member’s contribution’s, as well as the club’s main financial
records,  in case the Inland revenue asks to come and carry out an
inspection.

 

As I have only been using GnuCash for a few weeks I am going through the
procedure of manually entering all of 2011’s income, before I proceed to
2012’s income.

 

To do this I enter the total value received each day in an Income account
(on the Credit side), and then split this amount between each envelope (on
the Debit Side).

 

I then generated a transaction report for 1 day, clicking the select all
button in the accounts tab in the options dialogue box.  However, I can’t
understand why the Grand total given at the bottom is double the amount of
the income actually entered.

 

Surely if I have only entered 1 income transaction, for example £144.00, the
total amount should read as £144.00, not £288.00? Or, alternatively, should
it read zero, as you are entering the splits values on the Debit Side
(positive values) and the total income on the Credit Side (negative value)?

 

Can you please explain?

 

Thanks

 

 

 

 



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