That does make sense, thanks again Derek.
Cheers,
Simon
On Thu, Jan 5, 2023 at 5:54 PM Derek Atkins wrote:
> Well, if you put your O-B on all your Assets and Liabilities, then yes,
> that *IS* your current equity in the company.
>
> If you think the balance is too big, then most likely you
Well, if you put your O-B on all your Assets and Liabilities, then yes,
that *IS* your current equity in the company.
If you think the balance is too big, then most likely you haven't added
all your liabilities.
Keep in mind that Income and Expense are actually Equity-type accounts, in
the sense
Right now I have set up my transition from quickbucks to Gnc such that all
the bank accounts have an opening balance, which is drawn from
"Equity:Opening Balances". However, I think that's ... wrong/misleading, in
that this is most definitely not money I just handed over to create the
business.
