IMBALANCE AND ORPHAN ACCOUNT

David T. sunfish62 at yahoo.com
Fri Apr 22 17:40:08 EDT 2016


Opening balance transactions have to follow double entry accounting rules, too. Most people use some form of Equity->Opening Balances for the other side of these transactions. Take a look at https://www.gnucash.org/docs/v2.6/C/gnucash-guide/txns-puttoget1.html#txns-puttoget-open2 for more information.

This should have no effect on reconciliation.

HTH,
David

> On Apr 22, 2016, at 8:37 AM, Anne Okonkwo <anne.okonkwo at thehordinc.com> wrote:
> 
> Hello, am Anne
> 
> Please I need to understand why every time I open my balance sheet report I
> see "Imbalance and Orphan account". I figured these are balances of
> accounts that have no double entry.
> 
> I clearly understand that opening balance brought forward from a previous
> year doesn't have a double entry. Example Bank opening balance brought
> forward from previous year, accruals, prepayment, account receivables etc.
> and other balance sheet items.
> 
> My question now, how do I enter these figures without having imbalance or
> orphan account.
> 
> Next question is what happens when I reconcile accounts?
> 
> Will be glad if I get a quick and effective response to my questions.
> 
> Thank you
> 
> 
> With warm regards,
> 
> 
> 
> *Anne Temitope OKONKWO*
> THE HORD INC. LIMITED| www. <http://www.aiesecnigeria.org/>thehordinc.com
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