[GNC] Help request starting out with Gnucash

Brian Higgins brianhigginsclassicalguitar at yahoo.com
Sat May 4 13:18:08 EDT 2024


I really need to talk with someone to get this right. My equity opening 
balance is $ 6802.59 ( close enough) on 1/1 24,  and my check register 
is $3892.258 on 1/1/24 and my petty cash is $5 on 1/1 /24, so why does 
my equity account value on show up as equal to the assets?  I thought 
the equity account would show as the balance of all owners investment in 
the business, and as a liability, and thus a negative number.  Would a 
bookkeeper or accountant who may not be familiar with Gnucash be able to 
help me figure this out?
Note: I have returned the Equity parent account to placeholder, and I 
see there is an Opening Balance Equity as a child account of that. So 
really, is my opening balance equity just the total of my assets on 
1/1/24, or is it a register snapshot of a capital account, as of Jan 
1st,  meaning all the $ I have shoveled into this turkey since day one, 
starting back in  2021? I feel I should enter $ 6802.59, and I think 
that goes on the credit side,  ( an increase in GnuCash)) since it is a 
'special liability', where the bank account was debited that amount, 
over time, in 2021. I am starting these books fresh as of Jan 1 2024.
Thank you, I just need some hands on help getting me started.


Brian


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