Question Regarding Equity:Opening Balance

[Mark Phillips]

John,

Thanks....always good to find out my first solution was the right one! ;)

Mark
On May 12, 2013 6:25 AM, "John Filsak" <john.filsak at gmail.com> wrote:

> On 12 May 2013 14:19, Mark Phillips <mark at phillipsmarketing.biz> wrote:
>
> > I added a new savings account, and transferred $2000 from my existing
> > savings account to start this new account. I now have two savings
> accounts
> > and one checking account. I created a transaction to take money from my
> old
> > savings account to the new savings account as a transfer. However,
> > shouldn't I have used an  equity account (opening balances) somehow?
> When I
> > run a balance sheet report, the new savings account does not show up
> under
> > equity, just in the assets section.
> >
> > Thanks,
> >
> > Mark
> >
>
> Mark,
>
> That looks right to me. You haven't created additional equity. Your
> existing equity is simply now in your new savings account. Doing it by
> transfer is correct.
>
> John.
>
> > _______________________________________________
> > gnucash-user mailing list
> > gnucash-user at gnucash.org
> > https://lists.gnucash.org/mailman/listinfo/gnucash-user
> > -----
> > Please remember to CC this list on all your replies.
> > You can do this by using Reply-To-List or Reply-All.
> >
> _______________________________________________
> gnucash-user mailing list
> gnucash-user at gnucash.org
> https://lists.gnucash.org/mailman/listinfo/gnucash-user
> -----
> Please remember to CC this list on all your replies.
> You can do this by using Reply-To-List or Reply-All.
>