On 1/10/2023 11:24 AM, davidbrown.r...@photos.bozeat.biz wrote:
Thank you Michael for your reply .... it is a GNU question... We are a small club and a
couple of assets were missed in the "brought forward balance" when starting
with this App a couple of years ago, so they are listed in the balance sheet. We haven't
depreciated them as this is noted in our EoY. It acts as a list of equipment at he same
time.
When I put them in the Equipment A/c it does a CR and DR at the same time which
I don't want. A single entry to increase the assets without having to buy them.
I need the GNU App to add a couple of items that are of value to be represented
at EoY.
David, it is an accounting question, not a gnucash question << you would
have EXACTLY the same question were you still in the old days when I
learned pen and ink on accounting ruled paper >>
You are (actually) asking "how do I add assets that were forgotten when
the books were created?"
Correct, you are not (now) buying them. You are making what is
misleadingly called a "journal entry". An entry affecting equity. They
were in your original balance sheet (pre-gnucash) but were not entered
THEN with a starting balance. So you do it now.
You create an asset account for these under "fixed assets" (create if
you do not have). You can create this account with a zero balance. You
presumably have an account "starting balance" under equity (if you used
the wizard; entered accounts with starting balances when you created
your gnucash books. But if you like, you can create another child of
equity with a name like "corrections" << it is NOT unusual to have to
deal with odd situations* >>
You now enter a transaction debiting "fixed assets" for these and
crediting "corrections" with a description explaining the transaction.
Michael D Novack
* To give an example, an uncorrectable bank error. One of my
organizations paid an expense for an amount, let's say $100.30 The
recipient deposited the check in his bank (where correctly credited
$100.30). These days, the paper checks no longer flow back, just an
electronic transaction bank to bank to bank. Somehow, it arrived at our
bank as $100.00 so that is what was taken from the organization's
account. What to do about that $0.30 OOB? Communication with the banks
at both ends determined that the error was not correctable as neither of
these banks made the error and the banks in the middle not known << I
imagine had to been 30 million rather than 30 cents they would have done
what was necessary to find out where >>
What to do? Well COULD have treated the error as "income". But a more
sensible solution was a transaction between "bank account" and equity.
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