Opening Balances

[Michael Hendry]

On 11 Feb 2014, at 16:08, Brenda Reed <brendareed123 at gmail.com> wrote:

> I received payment against a bus invoice in 2014 but the inv was created in
> 2013 in the other software package I was using. I didn't account for it at
> all in GnuCash that it was invoiced. What accounts should be used in
> GnuCash and what are their assoc debits & credits? Thanks for your help.
> PS, I'm using "cash basis" accounting.

Not an accountant, but…

Your previous accounting software would have held balances in various accounts at the end of the financial year, and when you started up GC you would have copied them in as Starting Balances (for example, your current (checking) and credit card accounts).

Presumably, there would be an Accounts Receivable account in your old software, and this too should have been entered as a starting balance in the corresponding account in GC.

Michael

> _______________________________________________
> 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.