beginning balance of income and expense accounts

[Stan Brown]

On 2018-03-24 16:56, Buddha Buck wrote:> In general, I wouldn't bother
entering starting balances for income
> and expense accounts from before the period I am accounting for

I agree, and I'd go further: don't enter opening balances when creating
_any_ account. Instead, enter the opening balances as a transaction as
of the end of the previous year (or accounting period), with a balancing
entry to your equity account. If you discover a mistake, you can always
edit the transaction. But if you enter an opening balance on the New
Account dialog, and later discover a mistake, you can't correct it --
or, if you can, I've been unable to discover a way to do it.

-- 
Regards,
Stan Brown
Tompkins County, New York, USA
http://BrownMath.com
http://OakRoadSystems.com