[GNC] Where do 'opening liabilities' go?

[Chris Green]

On Sun, Nov 10, 2024 at 12:31:26PM +0000, Chris Green wrote:
> When opening a new set of accounts where does one put a liability that
> exists when the accounts are started?
> 
> I guess they are a sub-account of Liabilities but I'm not quite clear
> where they transfer from/to and whether they should be +ve or -ve.
> 
Going on from this where do liabilities accrued during the year go?

This is for a church where money goes in and out of the bank account
but some is destined for the 'building fund' which is kept in a
separate (building society, interest bearing) account.

So, at the start of the year some money is owing to the building fund
so it's an 'opening liability', how is that entered? (That was my
first question above)

Then, during the year there is income to the bank account which is
destined for the building fund.  So it is 'income' but also needs
to be recorded as a liability as it's owed to the building fund. How
do I enter this?

-- 
Chris Green