Dear all. I am a long time GnuCash user (10+ years) and I use it to track my personal finances.
The question I have is more related to accounting principles (I am no accountant) and how specific situations should be recorded to comply with "standards". I know there are no standards for personal finances but what I am looking for is how people treat specific situations and the general consensus (if there is any). Situation 1 Tracking mutual funds (or other investments that rely on prices and quantities) for a long time sometimes cause small diferences in balances (presumably caused by rounding limitations) that I want to correct. To correct those balances I either do a credit or debit transaction to the investment account to adjust the balance. At the other side of the transaction, in this case, should I credit or debit an expense/revenue account or an equity account? Situation 2 Sometimes there are errors in statements I receive (the nature of the specific errors are not relevant to the discussion) and that causes balance differences either in assets or liabilities accounts that I would like to correct recording an adjustment transaction. At the other side of the adjustment transaction should I credit or debit an expense/revenue account or an equity account? I tend to put an equity account at the other side of the adjustment transaction on the above situations because I am correcting an error and not actually generating revenue or expense, however I am uncertain if this teh adequate way of recording adjustment transactions. Thank you all for any comments. _______________________________________________ gnucash-user mailing list gnucash-user@gnucash.org To update your subscription preferences or to unsubscribe: https://lists.gnucash.org/mailman/listinfo/gnucash-user If you are using Nabble or Gmane, please see https://wiki.gnucash.org/wiki/Mailing_Lists for more information. ----- Please remember to CC this list on all your replies. You can do this by using Reply-To-List or Reply-All.
