Income doesn't shown up in balance sheet?
Maf. King
maf at chilwell.net
Thu Apr 14 06:23:36 EDT 2016
On Wednesday, 13 April 2016 15:29:44 BST Dallas wrote:
> Hi, this is probably a stupid newbie question, but I've been searching
> on-line for two hours still didn't figure it out.
>
> I just started using GnuCash today, so I created a new file with everything
> zero. Then I enter a transaction by transferring $2000 from Income:Other
> Income to Assets:Checking Account. Now I expect to have $2000 in Assets as
> well as in Equity. But when I open Reports:Balance Sheet, it shows $2000 in
> Assets:Checking Account, but Total Assets is still zero, and Total Equity
> is zero also.
>
> Where did I get wrong? How does an income become equity? I tried close
> books, and the report result is still the same.
>
> Thank for any answers.
>
>
Hi Dallas,
Which version of GC & Operating system?
I've just started a new file, with the default "common accounts", added £2000
to checking from other income, and I don't see any problem with the balance
sheet.
Assets:Checking is 2k, Total Assets is 2k, Retained earnings, total equity
and Total Liabilities & Equity all show 2k. everything else is zero.
The only option I had to change in the report config. was to run it for today's
date.
GC 2.6.11 OpenSuSE leap 42.1
HTH,
Maf.
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