General ledger

[Randy Williamson]

Got it thanks

Randy
On Dec 15, 2015 7:45 AM, "Michael Hendry" <hendry.michael at gmail.com> wrote:

>
> On 15 Dec 2015, at 15:07, Randy Williamson <ac7nj at arrl.net> wrote:
>
> Michael,
> Thank you for your answer I expected the General ledger to show a combined
> total not 0 if this is supposed to be 0 then I'm doing it correctly.
>
> Correct me if I didn't get this right
>
> That's correct, Randy.
>
> If you don’t understand the reason why, you’d be well advised to get some
> background in double-entry bookkeeping. By automating the process of data
> entry and adding up the columns, computers make life a lot easier for the
> bookkeeper, but they may multiply problems and make them hard to track down.
>
> When you reply, it’s best to “Reply to All” (i.e. including
> gnucash-user at gnucash.org). This means that once a query has been solved,
> the solution is available to others. It also means that other members of
> the list don’t waste time on it.
>
> Michael
>
> Randy ac7nj
> On Dec 15, 2015 2:33 AM, "Michael Hendry" <hendry.michael at gmail.com>
> wrote:
>
>>
>> > On 13 Dec 2015, at 23:12, Randy Williamson <ac7nj at arrl.net> wrote:
>> >
>> > How do I make the ledger show a balance I'm a total newby
>> >
>> > Than you in advance
>> >
>> > Randy ac7nj
>>
>> Welcome to GnuCash, Randy.
>>
>> I think you might need to do a little reading about double-entry
>> bookkeeping, the whole essence of which is that every transaction involves
>> money being moved from one account to another, and that these figures are
>> equal and opposite.
>>
>> This means that if you have a non-zero balance in your general ledger
>> you’ve made a mistake somewhere.
>>
>> For example, if you pay your utility bill by direct debit each month,
>> you’ll find that the General Ledger has an entry in the "Tot Funds In"
>> column for "Expenses:Heat, Light and Power" account of £X and a "Tot Funds
>> Out” entry for the same amount against "Assets:Current Assets:Bank Account”.
>>
>> When you look at the two accounts involved you’ll find that the balance
>> in "Expenses:Heat, Light and Power"  has increased and that in
>> "Assets:Current Assets:Bank Account” has decreased.
>>
>>
>> A lot of the queries raised on this forum can be resolved by answering
>> the question “How would I have done this in the old days of paper and
>> pencil?”, or by breaking complex transactions down into their component
>> parts.
>>
>> Feel free to tell me if you find my answer patronising!
>>
>> Michael
>>
>>
>