[GNC] Newbie question

[Fross, Michael]

Hello Steve.  Welcome to GnuCash!

While I'm not an expert, in my experience, an opening balance is just a
normal transaction.  There are typically two splits.  (1) is a deposit into
the account, and (2) is a withdrawal from the Equity:Opening Balances
account.  Remember GnuCash used double entry accounting so the insert has
to match with a decrease elsewhere.

Good luck.

Michael

On Sun, Sep 26, 2021 at 4:40 PM Steve Welch via gnucash-user <
gnucash-user at gnucash.org> wrote:

> Hi!
>
> I’m just getting started with GnuCash and have imported my QIF file from
> Moneydance.  Excited to take it for a spin!
> My question is regarding beginning (opening) account balances.  Moneydance
> has an opening balance field in the account setup window, but evidently
> that field isn’t accessible in GnuCash unless setting up a new account.
> The problem I seem to be having is that the beginning balances that had
> been in Moneydance did not import into Gnu, so my accounts are off.
> I am figuring I can manually enter an opening balance transaction for each
> account but wanted to make sure I wasn’t missing a more elegant (or
> obvious) solution.
>
> Thanks,
>
> Steve
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