setting up mortgage liability and paying it off from a check account asset...

[prl]

On 13/01/2017 11:29, Morgan Read wrote:
> ...
> Simply being able to toggle through the 'Reverse Balanced accounts'
> options gives a clearer idea of what's going on.  However, I'm left in a
> quandary why, when I remove all reverse signing, Income accounts go
> negative - is that because the income source which those accounts
> represent are less that amount because my checking account is plus that
> amount?  Perhaps I've answered that myself...
That's correct. Income accounts are normally debited (and credited into 
whatever account receives your income). An exception would be if you 
ever needed to repay (say) a wages overpayment.
> But also, what does it mean to be showing negative Equity - which is
> made up of Opening Balances only - when the opening value of the House
> under Fixed Assets is a third as much again in the black?  I realise
> that taking the Opening Balance of the 'Fixed Assets:House' from Opening
> Balances means that's so, but the resulting Equity doesn't equate with
> my understanding of equity, the difference between Assets and
> Liabilities...?
Similarly with Equity accounts. They are debited and the amount is 
credited as the opening balance of some asset account. Your equity is 
the difference between Assets and Liabilities, and the Asset accounts 
were paid that from the Equity account.

Cheers,
Peter