[GNC] Equity:Opening Balances Question

[Derek Atkins]

You are forgetting that Income and Expense are also types of Equity.  So 
you need to update your equation, and that will fix it for you.

-derek
Sent using my mobile device. Please excuse any typos.
On June 15, 2022 12:27:05 PM Jack Lockard <JELockard at outlook.com> wrote:

> 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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