[GNC] Help - entering opening balances
Peter West
lists at pbw.id.au
Tue Sep 8 09:03:58 EDT 2020
I should add, that the transactions will be, e.g.,
Debit:Assets:Savings $<opening balance amount>
Credit:Equity:Opening Balances $<opening balance amount>
Peter
--
Peter West
pbw at pbw.id.au
“Stretch out your hand.” And he did so, and his hand was restored. But they were filled with fury…
> On 8 Sep 2020, at 11:01 pm, Peter West <lists at pbw.id.au> wrote:
>
> Hi Chris,
>
> Don’t create accounts under Equity. Create your savings and current account under Assets. Then enter your opening balances as Stan Brown describes.
>
> Peter
> --
> Peter West
> pbw at pbw.id.au
> “Stretch out your hand.” And he did so, and his hand was restored. But they were filled with fury…
>
>> On 8 Sep 2020, at 10:52 pm, Chris Green <cl at isbd.net> wrote:
>>
>> I am at the stage of lots of rude words at the moment! :-)
>>
>> I am just starting to try and set up GnuCash for the PCC accounts and
>> I've fallen at the first hurdle. I can't work out how to enter
>> opening balances for the two accounts we have - a current account and
>> a savings account (which is basically the building fund).
>>
>> I have to say at present the help system is worse than useless, maybe
>> I'll get used to it later but it really doesn't help at all at this
>> beginner level.
>>
>> A search for 'opening balance' in the Tutorial and Concepts Guide
>> always takes me back to the top level whereas I want to search within
>> a section. HOw do I search for 'opening balance' in the Managing
>> Business Finances section?
>>
>> So, ignoring the help system, how do I enter an Opening Balance?
>> There's a section in accounts under 'Equity' for opening balances and
>> I tried creating two accounts under that and entering balances but the
>> result made no sense at all to me. Having entered an opening balance
>> I'd expect the balance sheet to show me that amount but GnuCash just
>> did a decrease and a balancing increase in the Equity account which
>> doesn't really make much sense.
>>
>>
>> --
>> Chris Green
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