[GNC] Help - entering opening balances

[Chris Green]

On Tue, Sep 08, 2020 at 09:05:46AM -0400, Derek Atkins wrote:
> Hi,
> 
> On Tue, September 8, 2020 8:52 am, Chris Green 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).
> [snip]
> > 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.
> 
> An O-B transaction is nothing special, it's just a regular double-entry
> transaction between the account in question and the Equity:Opening
> Balances account.  You can create an O-B when you create an account, or,
> after the account is created, you can just manually create the O-B
> transaction.
> 
> So for example if you start with $100 in your Bank, the O-B would be a
> transaction that Debit's Bank $100 (putting the $100 into it) and credits
> E:O-B.
> 
> There's nothing special about it.
> 
Yes, thanks, I seem to have got there now.

However I still think the help system was a bit rubbish! :-)

-- 
Chris Green