Newbie Question

[Nigel Snow]

Thanks,
That was the answer I was looking for....

However I now have a more serious problem; in the process of trying to move all the GnuCash files and application to their own directory, I have lost all the work I have done the last 3 days.... 
the application has lost links to all the accounts and data....
How do I retrieve that?



> On 6 Sep 2017, at 15.02, Mike or Penny Novack <stepbystepfarm at dialup4less.com> wrote:
> 
>> On 9/6/2017 6:00 AM, Nigel Snow wrote:
>> Hi,
>> I am new to GnuCash.
>> I have finished setting up my chart of accounts manually, but now I need to populate Opening Balances.
>> I understand that option was only available in the wizard.....
>> The question is how to set up Opening Balances Manually?
>> 
> Exactly, you enter the transaction manually (just like you will be entering other transactions). In other words, this is simply the first transaction of the accounting period.
> 
> BUT -- because doing a two way split transaction is tricky, I suggest you use TWO transactions, one for the credit side of equity and one for the debit side.
> 
> You want a BALANCE SHEET from your old method of accounting that would be valid for the first day of your new set of books under gnucash. Look at the total assets amount. Create a transaction to credit equity for that amount and hit split. Change the split amount to the first asset account amount and specify the account. Repeat till there is nothing left in Imbalance. Then that side of the split is done. OK, now do the same for the total amount of liabilities except this time you are doing a debit to equity.
> 
> Michael D Novack
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