[GNC] Interest Income

[Abe Sternberg]

Thanks, I will look at that.

Abe

On 2/20/2023 15:01, Keld Sorensen wrote:
> Abe - as the treasurer for a non-profit, I can strongly STRONGLY 
> recommend that you read up on double entry bookkeeping.
>
> GnuCash just makes it easier to do, but if you don't understand the 
> double-entry system, you may create a world of hurt for yourself.
>
> You could try all the documentation at GnuCash, but in reality, you 
> need to fully understand double-entry before you even THINK of using 
> GnuCash.
>
> Try this for starter 
> https://www.fool.com/the-ascent/small-business/accounting/articles/double-entry-accounting/ 
>
>
> Keld Sorensen
> Treasurer
>
>
> On Mon, Feb 20, 2023 at 12:55 PM Abe Sternberg 
> <abe.h.sternberg at gmail.com> wrote:
>
>     That sounds too simple - I'll try it.  I really get confused with
>     this
>     double-entry business, but these records are for a non-profit and
>     I have
>     to be sure they are kept correctly.
>
>     Regards,
>     Abe
>
>     On 2/20/2023 14:31, Gyle McCollam wrote:
>     > Just a thought, if you haven't set up your savings account
>     before and
>     > you are setting up the initial balance as the transaction you are
>     > referring to you would debit the savings account and credit an
>     equity
>     > account.  Most likely a beginning balances account.
>     >
>     > Thank You,
>     >
>     > *Gyle McCollam*
>     >
>     > Gyle McCollam
>     >
>     > gmccollam at live.com <mailto:gmccollam at gyleshomes.com>email
>     >
>     >
>     ------------------------------------------------------------------------
>     > *From:* gnucash-user
>     > <gnucash-user-bounces+gylemc=gmail.com at gnucash.org> on behalf of
>     Abe
>     > Sternberg <abe.h.sternberg at gmail.com>
>     > *Sent:* Monday, February 20, 2023 12:46 PM
>     > *To:* gnucash-user at gnucash.org <gnucash-user at gnucash.org>
>     > *Subject:* [GNC] Interest Income
>     > I have just started using Gnucash for my savings account, not
>     much money
>     > involved here, and wanted to enter my first transaction. Not
>     being good
>     > at double-entry bookkeeping, I have no idea what are the two
>     off-setting
>     > accounts.  I imagine that I use income, but what is the other
>     account?
>     >
>     > Thanks for your help to a dumb guy.
>     >
>     > Abe
>     > _______________________________________________
>     > 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
>     > -----
>     > Please remember to CC this list on all your replies.
>     > You can do this by using Reply-To-List or Reply-All.
>     _______________________________________________
>     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
>     -----
>     Please remember to CC this list on all your replies.
>     You can do this by using Reply-To-List or Reply-All.
>