"correcting" transactions

[John Sowden]

On 02/20/2014 08:12 PM, John Ralls wrote:
> On Feb 20, 2014, at 7:25 PM, John R. Sowden <jsowden at americansentry.net> wrote:
>
>> I have been reading a lot recently about correcting, removing, etc. transactions.  This is typically a no no in accounting.  I am not a CPA, but I have a general idea of GAAP (generally accepted accounting practices).  It does not allow for removing or editing existing transactions without an audit trial.  A simple was to do these things is to create "reversing entries" as general journal entries with explanations.  If the business owner is the only person using gc, and the resulting reports is only for his/her use, this is more of a formality, but if a bookkeeper/embezzler is using gc, this allows transactions to be hidden/altered.  Not a good thing.
> I think we're pretty consistent in saying that if your business needs audits or formal controls GnuCash is not the program for you.
>
> Regards,
> John Ralls
Wow!  Instead of addressing the issue , let's divert the attention and 
attack the messenger.  Just to get ME out of the way, I am the owner of 
my small corp., I do my own general ledger level (all but subsidiary 
A/R) accounting and I don't need to submit my reports to the outside 
world.  Therefore I don't fall into the area of concern.

My concern is one of professionalism of the gc product.  "Audits" and 
"formal controls" are probably outside the concern of most users, as 
they are more directed to public corps. or multiple shareholder entities.

Going down the path of edits and deletions of existing transactions 
makes the historical data unreliable.  The transaction did occur. It was 
edited because _____________.  This happened last year, remember?

Open source/free is not a license to providing a bad product.  If 
nothing else, the documentation should  indicate that "there is no audit 
trail.  The transactions can be edited.  If you are not comfortable with 
this, THEN this is not the accounting program for you".

Signed,

The Messenger