[GNC] Where do 'opening liabilities' go?

[Chris Green]

On Sun, Nov 10, 2024 at 04:30:19PM +0000, Murugan Mariappan wrote:
> >
> >    From: gnucash-user
> >    <gnucash-user-bounces+m.muruganandam=hotmail.com at gnucash.org> on behalf
> >    of Chris Green <cl at isbd.net>
> >    Sent: 10 November 2024 10:44
> >    To: gnucash-user at gnucash.org <gnucash-user at gnucash.org>
> >    Subject: Re: [GNC] Where do 'opening liabilities' go?
> >
> >    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?
> >
>
>    All opening balances should be mapped to equity account
>
>    Same way you can create new loans for building and map the entry to
>    equity
>
OK, that's fine, so I have an equity account with the amount owed from
the current account to the building fund.  That amount transfers to an
account in Liabilities.  However I'm stuck on how I add further
amounts owing to the building fund during the year, where do they
transfer from into the liability account?

--
Chris Green