How and when to use ....

[gargameow]

Hi all,

Just another separate list of questions.

1) In real life, I have 10k in my bank account.
So to use GNUCash, I create an entry in Equity > Open Balances (Increase
column) with Tranfers to Asset > Bank Savings account. Is that correct? When
do I use the decrease column in Open Balances?

2) When I borrow money from friends to buy a car, I have to create an entry
under Liabilities > Loans with amount put under "Increase" column, is that
correct? 
For 'Transfer' column, what do I link it to? 
1) Assets > checking account? or 
2) Assets > bank saving accounts? or 
3) Assets > cash on hands? or 
4) Directly to Expenses > Car?

Please advise. Thank you.




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