delete file names

[Derek Atkins]

Hi,

JOSEPH AIELLO <jraiello at verizon.net> writes:

> Hi All;
> I seem to be going backwards,I thought I had this system,but I don't.
> I opened a new  business account and want to start with an opening balance of $2000.In the initial phase I place $2000 in the Checking Account under Assets.The  Account file shows Assets = $2000,Equity = $2000. 
> The Equity statement under Income & Expense reads as follows:
>  
> Capital, 01/01/2013     $0.00
> Net income for Period $0.00    
> Investments for Period $4,000.00    
> Withdrawals for Period $2,000.00    
> Increase in capital     $2,000.00
> Capital, 12/31/2013     $2,000.00
>  
> How did I get $4000? I did something wrong,but what?
> What is the proper way to initialize an Account?

My guess is that you assigned both the debit and credit to the same
account instead of pulling the Opening Balance from Equity:Opening
Balances.

> ......thanks ...... joe
>  
> p.s. Is there a way I can search the threads for this subject matter?

Google?

> 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, 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
       warlord at MIT.EDU                        PGP key available