[GNC] Where do 'opening liabilities' go?

[David Cousens]

Chris

The opening entry for existing liabilities looks like'

Liabilities:                   Cr xxxx
Equity: Opening Balances       Dr xxxx

and there will be corres[ponding similar entries for existing assets

Assets:                        Dr yyyy
Equity: Opening Balances       Cr yyyy

Here you would use an appropriate sub account of assets or liabilities
for the particular item.

David Cousens

On Sun, 2024-11-10 at 12:31 +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.
>