On 12/11/2017 3:17 AM, David T. via gnucash-user wrote:
I would suggest reading section 4.4 of the tutorial, where the issue regarding
handling starting balance problems is addressed directly.
David
I would also suggest learning how to CORRECT errors, which in formal
accounting is not done by changing/editing existing errors.
Let me give an example. Suppose you did set up your books using
"starting balance" << as others have pointed out, some of us would NOT
have done that but would have manually entered the initial transactions
with a date before the start of the first period, usually the day before >>
Dec 31, 2016
Cash on hand db $500
Equity cr $500 (this probably part of a split
amount if :starting balance was used --- a single entry for the total of
all assets minus all liabilities)
Now on June 25th 2017 you discovered a jar squirreled away that had $100
dollars in it. How do you correct the starting balance? You can enter a
transaction with a date of Dec 31, 2016
Cash on hand db $100
Equity cr $100 (I don't know what equity sub
accounts the "starting balance" might have created since I never have
used that, but if a sub account was created, use that)
Your description for this entry would be something like "correction of
starting balance because of money found in jar"
Michael D Novack
Michael D Novack
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