[GNC] Fwd: Double entry directly to Equity

[davidcousens49 at gmail.com]

Bogdan,

This Investopedia page (
https://www.investopedia.com/terms/r/revaluationreserves.asp#:~:text=Revaluation%20reserve%20is%20an%20accounting,of%20the%20asset%20has%20changed
.) might provide some insights into how to setup revaluation reserves. My
reading of this is that the Reserve account is a contra account to the asset
value and it is recorded against a specific Expense account to account for short
term variations in the asset value.  Find the section on recording revaluation
reserves a bit down the page.  Most jurisdictions don't tax unrealized gains or
give you exemptions for unrealized losses, so you would likely want to record it
under an Expense account category for non-deductible expenses.  

You should seek specific accounting advice from a qualified accountant for your
jurisdiction and specific situation and not rely on this

David Cousens


On Sat, 2022-05-07 at 17:55 +0200, Bogdan wrote:
> Any suggestions there?
> 
> ---------- Forwarded message ---------
> From: Bogdan <sinovij at gmail.com>
> Date: Wed, May 4, 2022, 12:04
> Subject: Double entry directly to Equity
> To: <gnucash-user at gnucash.org>
> 
> 
> Hi,
> 
> I am trying to figure out how to set up a  revaluation reserve account
> directly in Equity so that I could do e.g. Dr Asset a/c Cr Equity.
> 
> About a year ago I was able to create an account in Trading and debit /
> credit it directly from Asset and Liability accounts. However, now when I
> enter a similar transaction the Trading account (second leg of the entry)
> simply disappears and is replaced by Imbalance.
> 
> What is the appropriate way to make accounting entries directly to Equity
> accounts (not retained earnings through PL)? Any idea why the above
> approach no longer works?
> 
> Thanks!
> _______________________________________________
> gnucash-user mailing list
> gnucash-user at gnucash.org
> To update your subscription preferences or to unsubscribe:
> https://lists.gnucash.org/mailman/listinfo/gnucash-user
> If you are using Nabble or Gmane, please see 
> https://wiki.gnucash.org/wiki/Mailing_Lists for more information.
> -----
> Please remember to CC this list on all your replies.
> You can do this by using Reply-To-List or Reply-All.