[GNC] Equity Account "problem"

[Dean Gibson]

There is no work-around because you do not understand the *BASICS *of 
accounting.  I would suggest a good book (there are many).

On 2023-07-11 15:48, Default User wrote:
> Hi!
>
> Is there a way to have Gnucash 4.13 (Debian GNU/Linux 12 Bookworm)
> automatically calculate, and update "Equity" in the main accounts tab,
> to show the "real" value of total Equity, after any action (or at least
> transaction) that would affect "real" equity?
>
> Example:
> Start with the GnuCash "Common Accounts", as in gcashdata_1.gnucash
> from the Tutorial and Concepts Guide, with all accounts set to $0.00.
>
> Now make a transaction so that Equity:Opening Balances starts with
> $10.00, and Assets:Current Assets:Cash in Wallet starts with $10.00.
> At this point, Equity = $10.00.  All good so far.
>
> But now, enter a transaction such as Expenses:Auto:Fuel (increase by
> $5.00), paid by transfer from Assets:Cash in Wallet (decrease by
> $5.00).
>
> So now:
> Assets = $5.00
> Liabilities = $0.00
> Equity = $10.00
>
> So . . .  if Assets - Liabilities = Equity, then
> $5.00 - $0.00 = $10.00?
>
> Thus, Equity does not seem to include the $5.00 Expense transaction.
> [Note: of course, the Balance Sheet in Reports does correctly show
> Equity as $5.00.]
>
> I assume that GnuCash has always been this way, from the beginning, and
> is not likely to change now!
>
> But is there a viable "workaround"?  I am pretty sure I understand what
> is going on, and maybe why it was done that way (so that the account
> ledger tabs show legitimate transactions" only?)
>
> But it does bother my sense of "correctness".
>
> [Note: I did see somewhere online a link to a web page that may have at
> one time shown the desired solution, but the web page has since been
> 404'd.]
>
> : (
>
>
>
>
> _______________________________________________
> 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.