[GNC] Equity:Opening Balances Question
Jack Lockard
JELockard at outlook.com
Wed Jun 15 12:25:29 EDT 2022
I've been using GNUCash for over 10 years now. Looking at the Equity group today I realized that the Opening Balances account has a balance of over $200,000. So I am thinking that I am not using the Equity group correctly.
Isn't Equity supposed to be Assets - Liabilities?
What got me started today was trying to figure out how to post an increase in the value of my house. To do that, I added an Equity:Unrealized Gain account posting an increase to the House asset and a decrease to the Unrealized Gain Equity account. Is this how it should be done?
Any help/suggestions would be appreciated. Maybe a link to something to read that will get me going in the right direction.
Thanks,
Jack Lockard
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