[GNC] Trail balance Imbalance / multi-currency transaction
Michael or Penny Novack
stepbystepfarm at comcast.net
Sun Nov 19 10:38:40 EST 2023
Perhaps easier/more usual:
Create a special accounts for rounding/bank errors* to hold the
discrepancies either permanently or temporarily* (in the case of bank
errors). Then your books will be in balance.
Michael D Novack
* LOL, once one of my non-profits had a small bank error. It would have
been in the bank's favor. But instead of immediately correcting it when
I brought it to the bank manager's attention, she decided there was no
POLICY in place in the case of non-profits (correct, or treat as a
donation to the non-profit). It took many months to get on the bank's
BOD agenda << this is a local bank, donates significantly to local
non-profits >>
By "temporary" I mean that when a bank errors account is not in use
(zero balance) I can be hidden.
> This led me to almost throwing gnucash out the window when I got a 1c rounding
> error on the GST for a transaction. The way the vendor calculated GST and the
> way gnucash calculated GST were not... balanced. The end result of this was that
> I was always going to have this 1c difference on the books and it was bound to
> grow. The books would never be balanced as a result.
>
> Luckily I thought of making an extra entry in the sales tax tables for 1c and
> added a tweak line to the bill entry that made it match and everything was "good
> enough" in the world.
More information about the gnucash-user
mailing list