Frank, I think the term Balans accounts will refer to Assets , Liability and Equity accounts while Gain and Loss accounts will refer to Income and Expense accounts.
In accounting the latter are known as temporary accounts as they record the income and expenses for the current accounting period and are used to calculate the profit or loss for that period. In the end of period closing calculations, this is usually transferred to an Equity:Retained Earnings account to reflect the change in equity produced by that profit or loss. The Assets Liability and Equity account balances on the other hand show the overall long term position of your accounts at the date the balances are taken. David Cousens ----- David Cousens -- Sent from: http://gnucash.1415818.n4.nabble.com/GnuCash-User-f1415819.html _______________________________________________ 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.
