Re: [GNC] Imbalance on Fixed Income Transaction
Thanks to Mattia and Steve (et all), Not only have I re-classified the FI1 and FI2 streams as "Assets", but since I didn't think "Current Assets" was quite a correct title, I created another asset category of "Recurring Assets" and moved FI1 and FI2 into that category. No more 'Imbalance'... And I have rescheduled recurring transactions for both of those assets. Does anyone see any kind of problem that might surface from that process ? Thanks -n- 73 Bruce KB6LWN ___ 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.
Re: [GNC] Imbalance on Fixed Income Transaction
Thank you to Mattia and Steve, I have re-classified FI1 and FI2 as "Assets" rather than "Income", and it's beginning to make some logical sense to me (again). I've likely forgotten most of what I ever learned about bookkeeping, even knowing whether or not that is a hyphenated word... The General Account looks much better now. Couldn't figure out where the faucet was. In other words, I found out how to dump money IN, now all I have to do is find some to 'dump in'. Thanks for your input fellows... Got me thinking back on track... Btw, Steve.. 73 fm KB6LWN Bruce ___ 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.
Re: [GNC] Imbalance on Fixed Income Transaction
Hi Bruce It is a formal requirement in double entry accounting theory that the sum of the debit entries/splits for a transaction should equal the sum of the credit entries or splits. Most transactions only have two splits but in the entry of transactions with more than two splits if you enter a transaction (pressing the enter key) GnuCash will assign any imbalance in these sums for the transaction to an imbalance account in the currency (and generate that account if it doees not exist. The purpose of this is to alert you that an unbalanced transaction has been entered and by how much it is unbalanced. Any non-zero balance in an Imbalance account is an indication that a transaction is in error or incomplete and unbalanced. The transaction entry to the Imbalance account enforces that formal accounting requirement for the transaction, even though it has been entered unbalanced. This can generally be fixed by viewing the transaction from any register but most usefully from the Imbalance account register and altering the destination account for the split from the Imbalance account to an appropriate account in your CoA. The transaction split to the Imbalance account will then disappear and its balance should return to 0. When entering transactions with more than two entries/splits if you use the tab key to get to a new line to enter the next split in the transaction, not the enter key, you should not encounter this problem. "Orphan" accounts perform a similar function when an account is deleted without reassigning all transaction splits to that account to another account before deleting the account. David Cousens On Thu, 2021-10-21 at 23:44 +0200, Bruce wrote: > Just setting up GnuCash 3.8b+(2019-12-29) for the first time > on an HP EliteDesk 800 G1 running LinuxMint v20.02 Cinnamon. > And yes, I've had Bookkeeping-101 in College, 40+ yrs ago. > And it was processed by an IBM 360 Mainframe. > > What I'm not understanding is the basics behind the "Imbalance" result. > I have set up all the top level accounts, and then added FI1 and FI2 (Fixed > Income 1&2) as subs below the 'Income' top level account. > > My two FI's come in at different times, one on the first of each month, the > other on the Second Wednesday, which I will eventually want to set up > recurring automatic transactions for those two sources (which I basically > already have figured out). > > After opening the register (ledger) for FI1 and entering a transaction for > that allotment, lets say $1000.00 and saving it, then opening the transaction > register for account FI2, and doing the same, for the same amount and saving > that... The main top level account page shows a total income of $2000.00, > which is correct and I understand, but directly above that is the "Imbalance- > USD" line, and if each transaction is once again opened each shows an > 'Imbalance' for the Transfer field in the amount of the transaction. > > I have reconciled both of these transactions basically meaning that I have > seen proof that the transaction occurred by statement or by funds-in-hand and > ticked the "R" box in the respective line, which changed to a "c", and is now > a "y". But the 'Imbalance' notice remains and the amount does not change. > > Once the transactions are reconciled, should not the imbalance go away ? > > I realize the answer to this is likely a simple one, > but it is alluding me at the moment, input appreciated. > > And lastly... Is it advisable to update to v4.8 under Mint ? > I notice that the doc page says it should be available through the 'Software > Center' on Ubuntu, but I just installed THIS version (3.8) from the Mint > 'Software Manager', and I'm limited to Cellular downloads at the moment, so > I'd rather not do the 800+MB FlatHub (which is v4.8). > > Bruce > (just another old retired Vet trying to keep his funds straight) > > ___ > 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. ___ 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.
Re: [GNC] Imbalance on Fixed Income Transaction
Hi Bruce! I believe you are missing something foundamental on how double-entry bookkeeping works. Every time you make a change to one account (in your case FI1 and FI2) there *need* to be another corresponding and opposite change to another. In your case, that's likely means some kind of checking account. If you write nothing there and just press return, GnuCash will automatically match whatever is not matched already to an "Imbalance" account, which collects all kind of splits that weren't properly assigned. More practically, you are using the "basic ledger" that means that you'll have to move on where "Imbalance-USD" is and change it to, say, Assets:Banks:Checking or somesuch, depending on where the money actually went. You should probably have a look at the manual at https://www.gnucash.org/docs/v4/C/gnucash-guide/basics-accounting1.html to have a better idea on how that should work. Reconciling doesn't really help for that, since that really should only be used for things like checking if your account transactions match what your bank think it should be and is not going to re-assign splits to other accounts on its own. Hope to have been of help! On Thu, Oct 21, 2021 at 11:44:00PM +0200, Bruce wrote: > Just setting up GnuCash 3.8b+(2019-12-29) for the first time > on an HP EliteDesk 800 G1 running LinuxMint v20.02 Cinnamon. > And yes, I've had Bookkeeping-101 in College, 40+ yrs ago. > And it was processed by an IBM 360 Mainframe. > > What I'm not understanding is the basics behind the "Imbalance" result. > I have set up all the top level accounts, and then added FI1 and FI2 (Fixed > Income 1&2) as subs below the 'Income' top level account. > > My two FI's come in at different times, one on the first of each month, the > other on the Second Wednesday, which I will eventually want to set up > recurring automatic transactions for those two sources (which I basically > already have figured out). > > After opening the register (ledger) for FI1 and entering a transaction for > that allotment, lets say $1000.00 and saving it, then opening the transaction > register for account FI2, and doing the same, for the same amount and saving > that... The main top level account page shows a total income of $2000.00, > which is correct and I understand, but directly above that is the > "Imbalance-USD" line, and if each transaction is once again opened each shows > an 'Imbalance' for the Transfer field in the amount of the transaction. > > I have reconciled both of these transactions basically meaning that I have > seen proof that the transaction occurred by statement or by funds-in-hand and > ticked the "R" box in the respective line, which changed to a "c", and is now > a "y". But the 'Imbalance' notice remains and the amount does not change. > > Once the transactions are reconciled, should not the imbalance go away ? > > I realize the answer to this is likely a simple one, > but it is alluding me at the moment, input appreciated. > > And lastly... Is it advisable to update to v4.8 under Mint ? > I notice that the doc page says it should be available through the 'Software > Center' on Ubuntu, but I just installed THIS version (3.8) from the Mint > 'Software Manager', and I'm limited to Cellular downloads at the moment, so > I'd rather not do the 800+MB FlatHub (which is v4.8). > > Bruce > (just another old retired Vet trying to keep his funds straight) > > ___ > 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. -- regards, Mattia Rizzolo GPG Key: 66AE 2B4A FCCF 3F52 DA18 4D18 4B04 3FCD B944 4540 .''`. More about me: https://mapreri.org : :' : Launchpad user: https://launchpad.net/~mapreri `. `'` Debian QA page: https://qa.debian.org/developer.php?login=mattia `- signature.asc Description: PGP signature ___ 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.
[GNC] Imbalance on Fixed Income Transaction
Just setting up GnuCash 3.8b+(2019-12-29) for the first time on an HP EliteDesk 800 G1 running LinuxMint v20.02 Cinnamon. And yes, I've had Bookkeeping-101 in College, 40+ yrs ago. And it was processed by an IBM 360 Mainframe. What I'm not understanding is the basics behind the "Imbalance" result. I have set up all the top level accounts, and then added FI1 and FI2 (Fixed Income 1&2) as subs below the 'Income' top level account. My two FI's come in at different times, one on the first of each month, the other on the Second Wednesday, which I will eventually want to set up recurring automatic transactions for those two sources (which I basically already have figured out). After opening the register (ledger) for FI1 and entering a transaction for that allotment, lets say $1000.00 and saving it, then opening the transaction register for account FI2, and doing the same, for the same amount and saving that... The main top level account page shows a total income of $2000.00, which is correct and I understand, but directly above that is the "Imbalance-USD" line, and if each transaction is once again opened each shows an 'Imbalance' for the Transfer field in the amount of the transaction. I have reconciled both of these transactions basically meaning that I have seen proof that the transaction occurred by statement or by funds-in-hand and ticked the "R" box in the respective line, which changed to a "c", and is now a "y". But the 'Imbalance' notice remains and the amount does not change. Once the transactions are reconciled, should not the imbalance go away ? I realize the answer to this is likely a simple one, but it is alluding me at the moment, input appreciated. And lastly... Is it advisable to update to v4.8 under Mint ? I notice that the doc page says it should be available through the 'Software Center' on Ubuntu, but I just installed THIS version (3.8) from the Mint 'Software Manager', and I'm limited to Cellular downloads at the moment, so I'd rather not do the 800+MB FlatHub (which is v4.8). Bruce (just another old retired Vet trying to keep his funds straight) ___ 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.
