Entering fixed assets dated before opening balance

[Derek Atkins]

Hi,

Gavin Dingley <gavindingley at hotmail.com> writes:

> Hello,
> I am very new to GNUCash, but have followed a couple of tutorials, and am
> interested in using this software for a small business. GNUCash will allow
> you to enter an asset that predates the opening balance, but I was wondering
> if this is good book keeping. I have equipment that I would like to
> incorporate into the business (sole trader) that I purchased some time ago.
>
> Thank you in advance and look forward to your advice,

You'll need to ask your accountant or tax planner if there is any issue,
but I think it is reasonable to insert the actual transaction dates into
your accounts even if they predate the day you started accounting.

> Gavin

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-derek

-- 
       Derek Atkins, SB '93 MIT EE, SM '95 MIT Media Laboratory
       Member, MIT Student Information Processing Board  (SIPB)
       URL: http://web.mit.edu/warlord/    PP-ASEL-IA     N1NWH
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