[GNC] Inserting the Beginning Balances of Accounts in Gnucash

[Derek Atkins]

Hi,

On Thu, April 22, 2021 12:55 pm, Jose A. Lorido III wrote:
> Thanks David for your advice..........
>
> I was able to place the Opening Balances on my ASSET and LIABILITY
> accounts, but I cannot seem to be able to add the Opening Balances to my
> EQUITY accounts (Additional-Paid-In-Capital, Opening Balances, and
> Retained
> Earnings accounts).
>
> Can you help on how to place the Beginning Balances on these EQUITY
> accounts?

It rarely makes sense to do that.  You'd just be transferring from one
equity account to another, which wouldn't actually change your equity.

If you NEED to do it, you can manually create it...  Or you can adjust
your Asset and Liability O-B txns to split into the required equity
buckets.  But really, if you're just starting your accounting, you
wouldn't have any retained earnings.

>
> Thanks,

-derek

>
>
> Kind Regards
> *Jose A. Lorido III*
> Managing Director
>
> *Infrastructure Engineering & Procurement Company LLC (IEPCO)*
> *Continental International Supply Company (CISCO)*
> *FHC Atares Group LLC*
> 100 Edgewater Drive, #345
> Coral Gables, FL 33133
> Tel: (305) 215-5076
> E-Mails: IEPCO at aol.com, ciscosupply at aol.com, FHCAtares at gmail.com
>  [image: GIFlogoColorSmall.gif]
>
>
>
> On Thu, Apr 22, 2021 at 12:26 PM D. <sunfish62 at yahoo.com> wrote:
>
>> From the Tutorial & Concepts Guide,  section 5.1:
>>
>> You can enter this [the opening balance] in the account information
>> window
>> automatically as part of the New Account Hierarchy Setup assistant, or
>> you
>> can enter a manual transaction directly in the account. To enter the
>> transaction manually, enter a transfer from an Opening Balances account
>> (type equity) to the bank account.
>>
>> HTH,
>> David T.
>>
>>
>> -------- Original Message --------
>> From: "Jose A. Lorido III" <fhcatares at gmail.com>
>> Sent: Thu Apr 22 11:37:01 EDT 2021
>> To: gnucash-user at gnucash.org
>> Cc: GnuCash-User <gnucash-user at lists.gnucash.org>, "Jose A. Lorido III"
>> <
>> ciscosupply at aol.com>, "Jose A Lorido, III" <iepco at aol.com>
>> Subject: [GNC] Inserting the Beginning Balances of Accounts in Gnucash
>>
>> Hello,
>>
>> I would like to utilize Gnucash for 2021,  and have the balances of all
>> my
>> accounts as of 12/31/2020.
>>
>> Can anyone advise on how to insert these beginning balances into their
>> corresponding accounts?
>>
>> Any help would be greatly appreciated...........
>>
>>
>> Kind Regards
>> *Jose A. Lorido III*
>> Managing Director
>>
>> *Infrastructure Engineering & Procurement Company LLC (IEPCO)*
>> *Continental International Supply Company (CISCO)*
>> *FHC Atares Group LLC*
>> 100 Edgewater Drive, #345
>> Coral Gables, FL 33133
>> Tel: (305) 215-5076
>> E-Mails: IEPCO at aol.com, ciscosupply at aol.com, FHCAtares at gmail.com
>>  [image: GIFlogoColorSmall.gif]
>>
>>
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>>
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-- 
       Derek Atkins                 617-623-3745
       derek at ihtfp.com             www.ihtfp.com
       Computer and Internet Security Consultant