what are the accounts you have set up in assets? it sounds like you only
have your equity balance. in my asset section, i have all my bank accounts,
petty cash, etc. as well. and i have separate accounts for each of my
equity assets (often sub accounts)... not just 1 account called equity.
- ph
~:~:~:~:~:~:~:~:~:~:~:~:~
paula hendricks ~:~ san francisco CA ~:~ 415.310.1168
On Sat, May 4, 2024 at 10:18 AM Brian Higgins via gnucash-user <
gnucash-user@gnucash.org> wrote:
> I really need to talk with someone to get this right. My equity opening
> balance is $ 6802.59 ( close enough) on 1/1 24, and my check register
> is $3892.258 on 1/1/24 and my petty cash is $5 on 1/1 /24, so why does
> my equity account value on show up as equal to the assets? I thought
> the equity account would show as the balance of all owners investment in
> the business, and as a liability, and thus a negative number. Would a
> bookkeeper or accountant who may not be familiar with Gnucash be able to
> help me figure this out?
> Note: I have returned the Equity parent account to placeholder, and I
> see there is an Opening Balance Equity as a child account of that. So
> really, is my opening balance equity just the total of my assets on
> 1/1/24, or is it a register snapshot of a capital account, as of Jan
> 1st, meaning all the $ I have shoveled into this turkey since day one,
> starting back in 2021? I feel I should enter $ 6802.59, and I think
> that goes on the credit side, ( an increase in GnuCash)) since it is a
> 'special liability', where the bank account was debited that amount,
> over time, in 2021. I am starting these books fresh as of Jan 1 2024.
> Thank you, I just need some hands on help getting me started.
>
>
> Brian
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