Equity-Opening Balance Never Changes

[janfl]

Thank you Derek for your prompt response and for clarifying it for me!
Date: Sun, 10 Jun 2012 10:56:56 -0700
From: ml-node+s1415818n4655320h91 at n4.nabble.com
To: janicez45 at hotmail.com
Subject: Re: Equity-Opening Balance Never Changes



	Hi,


On Sun, June 10, 2012 1:41 pm, janfl wrote:

> I have been using gnu cash for a couple of months. What I am noticing is

> that

> my equity balance never changes under accounts. Under equity, it says

> opening balances. I want it to show how much equity I have after

> everything

> is balanced. It just stays fixed at opening balance and yes, I know that

> is

> my opening balance. I would like the accounts page to reflect my current

> equity.  I pull the reports to get my cash flow and profit and loss. Would

> appreciate if someone could advise me.

This is a FAQ.  I should probably add it there.


You are confusing "Equity Accounts" from "Instantaneous Equity"..  The

I.E. includes Income and Expense values, which are not rolled up into your

Equity Accounts.  To compute your Instantaneous Equity you need to run a

Balance Sheet.


Your Equity accounts will always show your equity at a single point in

time.  Generally it's the Opening Balances, but you can roll up your

Income and Expense accounts into an Equity account by "closing the books".


I hope this helps.


> Please remember to CC this list on all your replies.

> You can do this by using Reply-To-List or Reply-All.


-derek


-- 

       Derek Atkins                 617-623-3745

       [hidden email]             www.ihtfp.com

       Computer and Internet Security Consultant


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