[GNC] Setting up a new accounting scheme in GnuCash

[Adrien Monteleone]

I forgot to add that you may not ever need the Retained Earnings account.

GnuCash can calculate this figure at any time with an Income Statement (P&L) Report as ’Net Profit/Loss’

If you desire to ‘close the books’ (not necessary) then that amount will get put into a Retained Earnings account and the Income and Expense accounts all zeroed out as a result.

If you don’t close the books and want to see your Gain & Loss for a longer period, either run the Income Statement for that period, or run a Balance Sheet Report which will also show Retained Earnings/Losses under the Equity section as a calculation. (rather than reporting a figure from an actual account)

Regards,
Adrien

> On Aug 9, 2019, at 3:17 AM, Frank ter Braak <frankterbraak at gmail.com> wrote:
> 
> Did not have time to rest all in GnuCash but I am very happy with the discussion and all the suggestions and clearifications. 
> 
> One question might help me even further: my old program made structure by numbering all accounts and keeping record what group or subgroup the entries are part or if the entry is group itself. 
> 
> The only other thing that had to be entered is if the account was a BALANS account or was part of the 'GAIN & LOSS' (free translation of 'winst en verlies rekening') account group.
> 
> How would I translate or compare this dichotomy to the way GnuCash is structured!? 
> 
> Are some TYPES considered 'balans' types and all others part of the 'gain & LOSS' group?
> 
> Vriendelijk groetend,
> Frank ter Braak