S-Corp: How do I handle initial cash infusion that started the company?

[Buddha Buck]

The $5000 in Imbalance-USD came from somewhere. There is at transaction
with that account in it, and that transaction is *wrong*, fundamentally.
You can go into that account's register and look at all the transactions
there (there is probably one). Select one of them, hit the "Split" button,
and fix the transaction that comes up.

Looking at the balance sheet, I suspect that the imbalance was from your
initial cash infusion, and by changing the imbalance account in that
transaction to checking, all will be well.

However, a bigger concern is the assertion that "The marked out areas are
all the same". If that is the case, then there is a serious problem with
your books, one that GnuCash should absolutely NOT be making. I suspect
that the marked out checking area differs from the other four marked out
areas by $5000 -- the $5000 that is in "Imbalance-USD". Otherwise, the
balance sheet won't balance, and the "Total Assets" line is incorrectly
summed. GnuCash should not do that, by design.

I also would recommend checking the balance sheet total for the checking
account against your actual bank balance. I suspect that the two will
disagree by about $5000 (and outstanding payments and deposits). Fixing the
transaction in Imbalance-USD should take care of that.


On Fri, Dec 23, 2016 at 11:00 AM bmenger <bmenger at hpcsociety.org> wrote:

> I cannot seem to remove an Imbalance that equals my initial cash deposit
> used
> to start up the company.  I put $5000 into company checking and a few
> months
> later took it back out.  My balance sheet continues to show a $5000
> discrepancy.  After reading two books on small business accounting, I can't
> figure this one out.  I am sure it is simple.  Here is my balance sheet:
> <http://gnucash.1415818.n4.nabble.com/file/n4688398/Capture.gif>
> The marked out areas are all the same ( for instance, they could all be
> "$10,")  There must be some place I am supposed to enter the transaction so
> that my assets increase by $5000 or my liabilities decrease by $5000?
> thanks for any help!
>
>
>
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