Why opening balances are in Grand Total?

[George Shuklin]

On 07/25/2016 02:00 PM, Buddha Buck wrote:
> 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".

Oh, I've got it. Grand Total is just empty. OK, then my question is: why 
'net asserts' counts opening balances twice?


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