Why opening balances are in Grand Total?

[Buddha Buck]

The screen shot you took seems to list "Net Assets: €3". Is this not what
your total assets are? No value seems to be listed next to "Grand Total".


On Mon, Jul 25, 2016 at 6:00 AM George Shuklin <george.shuklin at gmail.com>
wrote:

> Yes, I understand this. Opening balance operations are listed twice: in
> 'equities->Opening Balances' and in the corresponding asserts account
> (f.e. 'cash').
>
> My question is: Why 'Grand total' sum both sides of such transactions?
>
> On 07/25/2016 11:04 AM, DaveC49 wrote:
> > Hi George,
> >
> > Gnucash implements double entry bookkeeping. For every transaction there
> are
> > at least two accounts which are affected. for example if you buy a
> toaster
> > at the appliance store, it will be recorded as a credit ( or decrease in
> the
> > balance) of the amount of the purchase in your Asset:Bank account. The
> > second half of the transaction will be a debit to an expense account
> (i.e an
> > increase in the balance) for the same amount, e.g. Expense:Household
> > Purchases.
> >
> > For more info see the Wikipedia entry on Double Entry Bookkeeping, the
> > Accounting Equation or an introductory text on Financial accounting  and
> see
> > the Gnucash documentation ( Tutorial and concepts Guide) on splits,
> which is
> > what the two (or more) parts of a transaction are referred to in Gnucash.
> >
> > You can normally access the components of a transaction by opening one of
> > the accounts affected then double clicking on an individual transaction
> to
> > open the split. Additional lines will open below the summary line and
> these
> > will display the accounts affected.
> >
> > Splits can involve more than two accounts, for example when dealing with
> a
> > GST or VAT or sales  tax which you may collect on behalf of the
> government.
> >
> >
> > David
> >
> >
> >
> >
> > --
> > View this message in context:
> http://gnucash.1415818.n4.nabble.com/Why-opening-balances-are-in-Grand-Total-tp4685908p4685911.html
> > Sent from the GnuCash - User mailing list archive at Nabble.com.
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