GnuCash Income - How to manage?

SamuelHolmes82 samuel.holmes6 at gmail.com
Wed Jul 8 13:33:56 EDT 2015


Hi there,

I have been playing about with GnuCash.  I think it is an excellent program
but I need a bit of advice on how to manage balances etc.

I know that GnuCash uses "double entry" accounting.  I know what this means,
and I understand that there have to be two entries for a single transaction. 
I get this.

What I am finding difficult to figure out however, is how to manage Income
in my accounts.  Managing expenses is simple enough - I just have an account
called "expenses", which starts at £0.00 balance, and fills up with entries
as I record transactions.  Income, however, will be a bit more complicated. 
Let's assume for the sake of argument that I will never know exactly how
much my weekly income will be.  Therefore I cannot just create an account
that has an amount X in it, which I use as my income.  My income account
will need to be empty at the start of each month, and as I get paid, or
other funds come in, then these will be noted in the "Income" account. 
However I am not sure how I should manage this - given the double entry
nature of GnuCash I am always left with an "Imbalance-GBP" account that I
can do nothing to get rid of.  As I am hopefully being clear about, I
understand EXACTLY why this account exists, and I know that in order to get
rid of it, the imbalances have to be removed.

How then should I manage Income in GNUCash?



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