[GNC] Account setup

Tue Sep 28 20:36:25 EDT 2021

thanks a million.
<http://rogierfentenervanvlissingen.me?promo=email_sig&utm_source=product&utm_medium=email_sig&utm_campaign=gmail_api&utm_content=thumb>
Rogier Fentener van Vlissingen <http://rogierfentenervanvlissingen.me>

<http://rogierfentenervanvlissingen.me?promo=email_sig&utm_source=product&utm_medium=email_sig&utm_campaign=gmail_api&utm_content=thumb>

On Tue, Sep 28, 2021 at 7:50 PM <davidcousens49 at gmail.com> wrote:

>
> Rogier
>
> The GunCash Help manual
> https://www.gnucash.org/docs/v4/C/gnucash-help/trans-edit.html discusses
> this
> very briefly " press the Split button on the Toolbar or select Actions →
> Split
> Transaction". The entry of multisplit transactions is discussed in detail
> in
> the help manual at
> https://www.gnucash.org/docs/v4/C/gnucash-help/trans-multi-enter.html.
>
> There is also some discussion in the Guide
> https://www.gnucash.org/docs/v4/C/gnucash-guide/chapter_txns.html.
>
>
> Once the splits of the transaction are displayed you can use the mouse or
> tab
> key to get to the item you wish to change. The tab key ( nd not the Enter
> key)
> can take you past the last split line in a transaction to add an
> additional line
> where necessary. The accounts fields will give you drop down lists to
> select
> from. GnuCash forces a transaction to be balanced, i.e. the sums of credit
> and
> debit entries (or deposit and withdrawal if using nonaccounting
> terminology)
> must be equal and GnuCash will arbitrarily introduce an entry to an
> imbalance
> account to force this when editing or entering multisplit transactions.
>
> The trick is to adjust the debits and credits to the other desired
> transaction
> splits so that any entry to an imbalance account split becomes zero before
> pressing enter to close the transaction. This can be a challenge until you
> get
> the hang of it.
>
> David Cousens
>
>
>
> On Tue, 2021-09-28 at 19:04 -0400, Rogier F. van Vlissingen wrote:
> > thanks,
> >
> > I agree with you, in this case though it is about the one time setup of
> the
> > opening balances, and I made a typo, but I was not able to figure out how
> > to edit the transaction. But I think maybe I have it now, I think it is
> you
> > go in to the GL Journal and then you can edit the line items. The whole
> > point is that if you keep that setup in ONE transaction, you can make
> sure
> > that it balances. Having said that, I am not clear how to add another
> line
> > item to an existing transaction.
> >
> > For anything after that, I would agree with your observation that it is
> not
> > kosher to edit a transaction, you always make a correcting entry. I think
> > what I have here is a special case, just setting up the opening
> balances. I
> > was moving from QB to Gnucash.
> >
> >
> > <
> >
> http://rogierfentenervanvlissingen.me?promo=email_sig&utm_source=product&utm_medium=email_sig&utm_campaign=gmail_api&utm_content=thumb
> > >
> > Rogier Fentener van Vlissingen <http://rogierfentenervanvlissingen.me>
> >
> > <
> >
> http://rogierfentenervanvlissingen.me?promo=email_sig&utm_source=product&utm_medium=email_sig&utm_campaign=gmail_api&utm_content=thumb
> > >
> >
> >
> > On Tue, Sep 28, 2021 at 6:23 PM Michael or Penny Novack <
> > stepbystepfarm at comcast.net> wrote:
> >
> > > On 9/28/2021 1:16 PM, Rogier F. van Vlissingen wrote:
> > > > Thanks to everyone for helping out.
> > > >
> > > > What worked for me in the end was
> > > >
> > > >     1. to set up the COA first, without attempting any opening
> balances,
> > > and
> > > >     then
> > > >     2. to create a single transaction to set up the opening balances
> on
> > > >     1/1/2020.
> > > >
> > > > As it was, I had an ending trial balance on 12/31/2020, but there
> were a
> > > > few mistakes floating around, so in my setup, I made those
> corrections,
> > > and
> > > > settled it against retained earnings, by making that the final line
> item
> > > in
> > > > my opening transaction.
> > > >
> > > >
> > > >     - One thing I was not able to figure out. If I do set up this
> way,
> > > and I
> > > >     made a mistake in my initial g/l transaction is there a way to
> edit
> > > that
> > > >     transaction, or am I doomed to simply start over and do it the
> right
> > > way?
> > > >     - And since I made a false starts, I now have a couple of sets of
> > > books
> > > >     that I want to get rid of, but I wasn't sure how to do it, other
> > > than just
> > > >     deleting the file in the file system.
> > >
> > > a) Correcting the books --- this depends on how formal you are. Gnucash
> > > will allow you to edit exiting transactions. That is the informal way,
> > > maybe OK for personal books unlikely to be audited. The technically
> > > correct way in formal bookkeeping is to enter a correction transaction
> > > offsetting the error, with description referring to the original being
> > > corrected. That's what I do, but then most of my books are
> > > organizational, not my personal books. A treasurer of an organization
> > > should do it the right way.
> > >
> > > b) Deleting  books --- yes, simply delete the file. Just like to make a
> > > backup you make a copy of the file.
> > >
> > > Michael D Novack
> > >
> > >
> > >
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