Re: [GNC] Getting My Account To Trial Balance
Hugh, Gnucash will certainly do what you want and a number of us do use it for exactly that purpose, amongst many other more complex purposes. We are having a bit of a communication problem as some of us wrongly concluded from your first post that you were using trading accounts used for buying and selling shares/securities. Gnucash has a little bit of its own jargon which takes a short time to pick up as well as the general accounting jargon. Gnucash is a double entry accounting system. This means that every transaction affects at least two (or in some cases more, e.g with VAT) accounts. The first is the account that funds are either coming out of or being deposited to, e.g. a bank account and the second component is usually an income or expense account which indicates where the funds either came from or went to and the purpose. The Tutorial and Concepts guide for Gnucash (https://www.gnucash.org/do cs/v3/C/gnucash-guide/index.html) has a brief overview of this. Wikipedia also has a good description of double entry accounting (https ://en.wikipedia.org/wiki/Double-entry_bookkeeping_system but is a lot wordier). Section II of the Tutorial guide should give you most of the information you need even though it is described as Personal Finances. You will not need the business functions unless you purchase on credit/account from suppliers (receive goods and pay at the end of the month) for example or extend credit (supply the goods and collect payment at a later date) for your sales to purchasers. Anything which appears in an Orphan or Imbalance account usually means that one of the components of a transaction is incorrect and tyhe sum of the debit and credits in the transaction is not zero as it should be (in this context debits are assumed to be the negative of credits). Gnucash uses this so such imbalances are easily detected because they appear in these accounts. This is not sufficient to eliminate all possible errors but it does identify some fairly common entry problems If all transaction you have entered are balanced within the transaction in all your accounts (and when there are no transactions to the Orphan or Imbalance accounts), then the trial balance should also be balanced, i.e. the sum of all debits should equal the sum of all credits. As I mentioned in an earlier post, this is the starting point from which accountants adjust the accounts (not fiddling the books) to produce the final account statements and close the books for an accounting period. If you start with the tutorial and setup a dummy set of accounts to play with (it can be a copy of the file for your actual accounts in a separate location) you can work through the tutorial as an exercise and then go back to the real accounts when you feel you have understood it. I still have a dummy set of accounts for testing things after 9 years using GnuCash. Hope this is clearer for you and please come back to the forum if any of the above material is unclear for you or you have specific questions. It may help to give a brief description of the event you are trying to record in the accounts so there is a bit of context so we don't go charging off into the wild blue yonder on the wrong track. David Cousens On Fri, 2018-07-27 at 19:49 +0100, H M MacDonald OBE wrote: > We aren’t a business – we are a social club. Most of our income is > derived > from subscriptions or donations or ticket payments for our social > functions. > Our expenditure is on running costs like postage, stationery and > hotel > charges for meals and functions. The profit is the overall profit > when the > expenditure is deducted from the income. The software is fine for > recording everything and for calculating the profit and loss but at > the year > end we will need to produce a balance sheet and that’s where the > problem > appears to come up. I’m really sorry if I’m wasting all your time – > you’ve > all been really helpful and maybe its just that gnucash won’t do what > we > expect. > > From: gnucash-user > on behalf > of David > Carlson > Date: Friday, 27 July 2018 at 14:19 > To: Hugh MacDonald OBE > Cc: Gnucash Users , Stan Brown > > Subject: Re: [GNC] Getting My Account To Trial Balance > > If you sold an asset that is valued in units other than your currency > then > read the chapter of the manual about capital gains about how to enter > your > profit. > > Otherwise tell us more about the transaction where that profit > appeared. > > David C > > On Fri, Jul 27, 2018, 4:11 AM H M MacDonald OBE om> > wrote: > > > My accounts are showing a profit of £20.99 which shows as an > > Imbalance of > > £20.99. Sorry to be a bit slow on all of this but are folk saying > > that the > > £20.99 needs to be added to current assets/equity to make the > > trial > &g
Re: [GNC] Getting My Account To Trial Balance
Thanks David - it's late here now so i’ll try in the morning. > On 28 Jul 2018, at 01:31, David Carlson wrote: > > Hugh, > > Going back to your profit of £20.99. > > Does the Trial Balance report identify it as an unrealized gain? > > Have you tried running the Trial Balance report for earlier dates to > establish the date when it appeared? That should help you find the > transaction and thus the problem that caused it. Then you may find that some > transaction has unintentionally introduced an account not denominated in > sterling or possibly even a bug in GnuCash (Can't say that never happened). > > David C > >> On Fri, Jul 27, 2018 at 6:40 PM, H Millar MacDonald OBE >> wrote: >> Hi David >> >> Thanks. I was worrying that I just wasn’t getting it. I downloaded the >> software and it offers an option to change currency to sterling which I did. >> It was that simple so I haven’t do e any conversions from USD. >> >> Thanks for your patience. >> >> > On 27 Jul 2018, at 23:14, David Carlson >> > wrote: >> > >> > Hugh, >> > >> > There has been a lot of discussion in this thread that does not apply to >> > your use case. The Trial Balance Report should not show any unrealized >> > gain if you do not have any accounts that are denominated in any currency >> > other than that defined by your Locale. Since you report that it does, >> > there may be an issue with settings on your computer. >> > >> > Do not assume that GnuCash will not work for you. Please tell us what >> > settings you used to change the default from US dollars to your local >> > currency. >> > >> > David C >> > >> > On Fri, Jul 27, 2018 at 1:49 PM, H M MacDonald OBE >> > wrote: >> > >> >> We aren’t a business – we are a social club. Most of our income is >> >> derived from subscriptions or donations or ticket payments for our social >> >> functions. Our expenditure is on running costs like postage, stationery >> >> and hotel charges for meals and functions. The profit is the overall >> >> profit when the expenditure is deducted from the income. The software is >> >> fine for recording everything and for calculating the profit and loss but >> >> at the year end we will need to produce a balance sheet and that’s where >> >> the problem appears to come up. I’m really sorry if I’m wasting all your >> >> time – you’ve all been really helpful and maybe its just that gnucash >> >> won’t >> >> do what we expect. >> >> >> >> From: gnucash-user > >> gnucash.org> on behalf of David Carlson >> >> Date: Friday, 27 July 2018 at 14:19 >> >> To: Hugh MacDonald OBE >> >> Cc: Gnucash Users , Stan Brown < >> >> the_stan_br...@fastmail.fm> >> >> >> >> Subject: Re: [GNC] Getting My Account To Trial Balance >> >> >> >> If you sold an asset that is valued in units other than your currency then >> >> read the chapter of the manual about capital gains about how to enter your >> >> profit. >> >> >> >> Otherwise tell us more about the transaction where that profit appeared. >> >> >> >> David C >> >> >> >> On Fri, Jul 27, 2018, 4:11 AM H M MacDonald OBE >> >> wrote: >> >> >> >> My accounts are showing a profit of £20.99 which shows as an Imbalance of >> >> £20.99. Sorry to be a bit slow on all of this but are folk saying that >> >> the >> >> £20.99 needs to be added to current assets/equity to make the trial >> >> balance? >> >> I¹ve tried that and it still fails. It can¹t be added to the income as a >> >> profit since that will make the profit double. Clearly there¹s something >> >> I¹m still not getting ŠŠŠ >> >> >> >> Thanks to everyone for their input so far. >> >> >> >> From: gnucash-user >> >> on behalf of >> >> Stan >> >> Brown >> >> Date: Thursday, 26 July 2018 at 13:21 >> >> To: GnuCash User List >> >> Subject: Re: [GNC] Getting My Account To Trial Balance >> >> >> >> David T. wrote: >> >> >> >>> For those who *do* have such holdings, a balanced transaction will >> >> still fail >> >>> the trial balance if the gain or loss isn
Re: [GNC] Getting My Account To Trial Balance
We aren’t a business – we are a social club. Most of our income is derived from subscriptions or donations or ticket payments for our social functions. Our expenditure is on running costs like postage, stationery and hotel charges for meals and functions. The profit is the overall profit when the expenditure is deducted from the income. The software is fine for recording everything and for calculating the profit and loss but at the year end we will need to produce a balance sheet and that’s where the problem appears to come up. I’m really sorry if I’m wasting all your time – you’ve all been really helpful and maybe its just that gnucash won’t do what we expect. From: gnucash-user on behalf of David Carlson Date: Friday, 27 July 2018 at 14:19 To: Hugh MacDonald OBE Cc: Gnucash Users , Stan Brown Subject: Re: [GNC] Getting My Account To Trial Balance If you sold an asset that is valued in units other than your currency then read the chapter of the manual about capital gains about how to enter your profit. Otherwise tell us more about the transaction where that profit appeared. David C On Fri, Jul 27, 2018, 4:11 AM H M MacDonald OBE wrote: > My accounts are showing a profit of £20.99 which shows as an Imbalance of > £20.99. Sorry to be a bit slow on all of this but are folk saying that the > £20.99 needs to be added to current assets/equity to make the trial > balance? > I¹ve tried that and it still fails. It can¹t be added to the income as a > profit since that will make the profit double. Clearly there¹s something > I¹m still not getting ŠŠŠ > > Thanks to everyone for their input so far. > > From: gnucash-user > on behalf of > Stan > Brown > Date: Thursday, 26 July 2018 at 13:21 > To: GnuCash User List > Subject: Re: [GNC] Getting My Account To Trial Balance > > David T. wrote: > >> > For those who *do* have such holdings, a balanced transaction will > still fail >> > the trial balance if the gain or loss isn?t entered. In this instance, > there >> > will be no entries in IMBALANCE-XXX, since each transaction balances. >> > Example: buy 10 shares of X for $100, using cash from your checking > account >> > (credit/debit of $100). Then sell those shares for $150 (debit/credit of >> > $150). >> > Both transaction balance?but where did that extra cash come from? > Without >> > entering the gain of $50 as income, the Trial balance will fail. > > Is that really what happens? I can't understand why, if it does. Yes, you > end up with an extra $50 in cash, and you also end up with MINUS $50 in the > investment: the original debit of $100, and the sale credit of $50, leaving > a credit (minus) balance of $50. As far as I can see, the trial balance > still balances. > > Of course, a negative balance in an investment account should raise a red > flag when (if) yo notice it: "Oops, I forgot to enter the gain as a > transaction." But I don't see how it should make the trial balance fail. > > BTW, instead of a separate transaction, I might record the gain as a split: > Assets:Cash $150 debit > Assets:Investment $100 credit > Income:Gain on investments $50 credit > > Is there any disadvantage to doing that, versus two transactions? > Assets:Investment $50 debit > Income:Gain on Investments $50 credit > Assets:Cash $150 debit > Assets::Investment $150 credit > > -- > Stan Brown > the_stan_br...@fastmail.fm > http://BrownMath.com > http://OakRoadSystems.com/ > ___ > 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. > ___ 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
Re: [GNC] Getting My Account To Trial Balance
Hugh, Going back to your profit of £20.99. Does the Trial Balance report identify it as an unrealized gain? Have you tried running the Trial Balance report for earlier dates to establish the date when it appeared? That should help you find the transaction and thus the problem that caused it. Then you may find that some transaction has unintentionally introduced an account not denominated in sterling or possibly even a bug in GnuCash (Can't say that never happened). David C On Fri, Jul 27, 2018 at 6:40 PM, H Millar MacDonald OBE < spahonsec...@gmail.com> wrote: > Hi David > > Thanks. I was worrying that I just wasn’t getting it. I downloaded the > software and it offers an option to change currency to sterling which I > did. It was that simple so I haven’t do e any conversions from USD. > > Thanks for your patience. > > > On 27 Jul 2018, at 23:14, David Carlson > wrote: > > > > Hugh, > > > > There has been a lot of discussion in this thread that does not apply to > > your use case. The Trial Balance Report should not show any unrealized > > gain if you do not have any accounts that are denominated in any currency > > other than that defined by your Locale. Since you report that it does, > > there may be an issue with settings on your computer. > > > > Do not assume that GnuCash will not work for you. Please tell us what > > settings you used to change the default from US dollars to your local > > currency. > > > > David C > > > > On Fri, Jul 27, 2018 at 1:49 PM, H M MacDonald OBE < > sassunach...@gmail.com> > > wrote: > > > >> We aren’t a business – we are a social club. Most of our income is > >> derived from subscriptions or donations or ticket payments for our > social > >> functions. Our expenditure is on running costs like postage, > stationery > >> and hotel charges for meals and functions. The profit is the overall > >> profit when the expenditure is deducted from the income. The software > is > >> fine for recording everything and for calculating the profit and loss > but > >> at the year end we will need to produce a balance sheet and that’s where > >> the problem appears to come up. I’m really sorry if I’m wasting all > your > >> time – you’ve all been really helpful and maybe its just that gnucash > won’t > >> do what we expect. > >> > >> From: gnucash-user >> gnucash.org> on behalf of David Carlson > >> Date: Friday, 27 July 2018 at 14:19 > >> To: Hugh MacDonald OBE > >> Cc: Gnucash Users , Stan Brown < > >> the_stan_br...@fastmail.fm> > >> > >> Subject: Re: [GNC] Getting My Account To Trial Balance > >> > >> If you sold an asset that is valued in units other than your currency > then > >> read the chapter of the manual about capital gains about how to enter > your > >> profit. > >> > >> Otherwise tell us more about the transaction where that profit appeared. > >> > >> David C > >> > >> On Fri, Jul 27, 2018, 4:11 AM H M MacDonald OBE > > >> wrote: > >> > >> My accounts are showing a profit of £20.99 which shows as an Imbalance > of > >> £20.99. Sorry to be a bit slow on all of this but are folk saying that > the > >> £20.99 needs to be added to current assets/equity to make the trial > >> balance? > >> I¹ve tried that and it still fails. It can¹t be added to the income > as a > >> profit since that will make the profit double. Clearly there¹s > something > >> I¹m still not getting ŠŠŠ > >> > >> Thanks to everyone for their input so far. > >> > >> From: gnucash-user > >> on behalf of > >> Stan > >> Brown > >> Date: Thursday, 26 July 2018 at 13:21 > >> To: GnuCash User List > >> Subject: Re: [GNC] Getting My Account To Trial Balance > >> > >> David T. wrote: > >> > >>> For those who *do* have such holdings, a balanced transaction will > >> still fail > >>> the trial balance if the gain or loss isn?t entered. In this instance, > >> there > >>> will be no entries in IMBALANCE-XXX, since each transaction balances. > >>> Example: buy 10 shares of X for $100, using cash from your checking > >> account > >>> (credit/debit of $100). Then sell those shares for $150 (debit/credit > of > >>> $150). > >>> Both transaction balance?but where did that extra cash come from? > >> Without > >
Re: [GNC] Getting My Account To Trial Balance
Hi David Thanks. I was worrying that I just wasn’t getting it. I downloaded the software and it offers an option to change currency to sterling which I did. It was that simple so I haven’t do e any conversions from USD. Thanks for your patience. > On 27 Jul 2018, at 23:14, David Carlson wrote: > > Hugh, > > There has been a lot of discussion in this thread that does not apply to > your use case. The Trial Balance Report should not show any unrealized > gain if you do not have any accounts that are denominated in any currency > other than that defined by your Locale. Since you report that it does, > there may be an issue with settings on your computer. > > Do not assume that GnuCash will not work for you. Please tell us what > settings you used to change the default from US dollars to your local > currency. > > David C > > On Fri, Jul 27, 2018 at 1:49 PM, H M MacDonald OBE > wrote: > >> We aren’t a business – we are a social club. Most of our income is >> derived from subscriptions or donations or ticket payments for our social >> functions. Our expenditure is on running costs like postage, stationery >> and hotel charges for meals and functions. The profit is the overall >> profit when the expenditure is deducted from the income. The software is >> fine for recording everything and for calculating the profit and loss but >> at the year end we will need to produce a balance sheet and that’s where >> the problem appears to come up. I’m really sorry if I’m wasting all your >> time – you’ve all been really helpful and maybe its just that gnucash won’t >> do what we expect. >> >> From: gnucash-user > gnucash.org> on behalf of David Carlson >> Date: Friday, 27 July 2018 at 14:19 >> To: Hugh MacDonald OBE >> Cc: Gnucash Users , Stan Brown < >> the_stan_br...@fastmail.fm> >> >> Subject: Re: [GNC] Getting My Account To Trial Balance >> >> If you sold an asset that is valued in units other than your currency then >> read the chapter of the manual about capital gains about how to enter your >> profit. >> >> Otherwise tell us more about the transaction where that profit appeared. >> >> David C >> >> On Fri, Jul 27, 2018, 4:11 AM H M MacDonald OBE >> wrote: >> >> My accounts are showing a profit of £20.99 which shows as an Imbalance of >> £20.99. Sorry to be a bit slow on all of this but are folk saying that the >> £20.99 needs to be added to current assets/equity to make the trial >> balance? >> I¹ve tried that and it still fails. It can¹t be added to the income as a >> profit since that will make the profit double. Clearly there¹s something >> I¹m still not getting ŠŠŠ >> >> Thanks to everyone for their input so far. >> >> From: gnucash-user >> on behalf of >> Stan >> Brown >> Date: Thursday, 26 July 2018 at 13:21 >> To: GnuCash User List >> Subject: Re: [GNC] Getting My Account To Trial Balance >> >> David T. wrote: >> >>> For those who *do* have such holdings, a balanced transaction will >> still fail >>> the trial balance if the gain or loss isn?t entered. In this instance, >> there >>> will be no entries in IMBALANCE-XXX, since each transaction balances. >>> Example: buy 10 shares of X for $100, using cash from your checking >> account >>> (credit/debit of $100). Then sell those shares for $150 (debit/credit of >>> $150). >>> Both transaction balance?but where did that extra cash come from? >> Without >>> entering the gain of $50 as income, the Trial balance will fail. >> >> Is that really what happens? I can't understand why, if it does. Yes, you >> end up with an extra $50 in cash, and you also end up with MINUS $50 in the >> investment: the original debit of $100, and the sale credit of $50, leaving >> a credit (minus) balance of $50. As far as I can see, the trial balance >> still balances. >> >> Of course, a negative balance in an investment account should raise a red >> flag when (if) yo notice it: "Oops, I forgot to enter the gain as a >> transaction." But I don't see how it should make the trial balance fail. >> >> BTW, instead of a separate transaction, I might record the gain as a split: >> Assets:Cash $150 debit >> Assets:Investment $100 credit >> Income:Gain on investments $50 credit >> >> Is there any disadvantage to doing that, versus two transactions? >> Assets:Investment $50 debit >> Income:Gain on Investments $50 credit >> Assets:Cash $150 debi
Re: [GNC] Getting My Account To Trial Balance
Hugh, When you are creating the transaction for the sale if you are using the automated process as described in the Tutorial and Concepts Guide (https://www.gnucash.org/docs/v3/C/gnucash-guide/index.html) section 9.7 on selling shares Gnucash will automatically assign the profit/gain on the transaction to either an Orphan_Gains_CCC (where CCC is the designator for the currency the stock is in) if using the automated scrub facility or to the Imbalance account if using the manual procedure described in Section 9.7. This is because GnuCash has no way of knowing what Income account you may want to assign the profit/loss to so it uses these default accounts to indicate that a transaction has a component which has not been assigned to a specific account in your Chart of Accounts. Any entries which appear in the Orphan or Imbalance accounts need to be reassigned to specific accounts as there balances are only not zero when an accounting error/unassigned transaction component has occurred. Their purpose is to highlight such transactions for correction. You have to reassign the amount that GnuCash has assigned to either of these accounts by default to an appropriate Income account you have set up for recording realized share gains and losses. To do this if you open the transaction in the Asset register which recorded the shares/security you sold, (note I am working with the Auto-split ledger option set in the Register defaults tab of the Edit preferences which opens and displays all splits of a transaction). You will see the accounts that the various splits of the transaction have been assigned to in a column to the right of the screen befor the debits and credits to the accounts are listed. There should be three entries/splits for your transaction. The first will be a credit to the asset account which recorded your ownership of the securities for the value of the securities (normally the price you paid but if you are an active trader it may be a calculation based on either a first in-first out basis or a last-in first out basis where your sale covers multiple lots of securities purchased at different times. The second will be a debit to your Asset:bank account (or similar eg a brokerage account) which will be for the amount for whichyou sold the securities. The third entry will be to either the Imbalance account or an Orphan-Gains account with a credit for the difference between the purchase and sale prices. To reassign it, click on the Imbalance or Orphan Gains account and it will open a drop down list from which you can select an Income account to which you want to assign the profit. Something like Income:Securities or similar. You may need to create an appropriate account under the Income top level heading in your Accounts list if one doesn't exist already. 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.
Re: [GNC] Getting My Account To Trial Balance
Hugh, There has been a lot of discussion in this thread that does not apply to your use case. The Trial Balance Report should not show any unrealized gain if you do not have any accounts that are denominated in any currency other than that defined by your Locale. Since you report that it does, there may be an issue with settings on your computer. Do not assume that GnuCash will not work for you. Please tell us what settings you used to change the default from US dollars to your local currency. David C On Fri, Jul 27, 2018 at 1:49 PM, H M MacDonald OBE wrote: > We aren’t a business – we are a social club. Most of our income is > derived from subscriptions or donations or ticket payments for our social > functions. Our expenditure is on running costs like postage, stationery > and hotel charges for meals and functions. The profit is the overall > profit when the expenditure is deducted from the income. The software is > fine for recording everything and for calculating the profit and loss but > at the year end we will need to produce a balance sheet and that’s where > the problem appears to come up. I’m really sorry if I’m wasting all your > time – you’ve all been really helpful and maybe its just that gnucash won’t > do what we expect. > > From: gnucash-user gnucash.org> on behalf of David Carlson > Date: Friday, 27 July 2018 at 14:19 > To: Hugh MacDonald OBE > Cc: Gnucash Users , Stan Brown < > the_stan_br...@fastmail.fm> > > Subject: Re: [GNC] Getting My Account To Trial Balance > > If you sold an asset that is valued in units other than your currency then > read the chapter of the manual about capital gains about how to enter your > profit. > > Otherwise tell us more about the transaction where that profit appeared. > > David C > > On Fri, Jul 27, 2018, 4:11 AM H M MacDonald OBE > wrote: > > My accounts are showing a profit of £20.99 which shows as an Imbalance of > £20.99. Sorry to be a bit slow on all of this but are folk saying that the > £20.99 needs to be added to current assets/equity to make the trial > balance? > I¹ve tried that and it still fails. It can¹t be added to the income as a > profit since that will make the profit double. Clearly there¹s something > I¹m still not getting ŠŠŠ > > Thanks to everyone for their input so far. > > From: gnucash-user > on behalf of > Stan > Brown > Date: Thursday, 26 July 2018 at 13:21 > To: GnuCash User List > Subject: Re: [GNC] Getting My Account To Trial Balance > > David T. wrote: > > > For those who *do* have such holdings, a balanced transaction will > still fail > > the trial balance if the gain or loss isn?t entered. In this instance, > there > > will be no entries in IMBALANCE-XXX, since each transaction balances. > > Example: buy 10 shares of X for $100, using cash from your checking > account > > (credit/debit of $100). Then sell those shares for $150 (debit/credit of > > $150). > > Both transaction balance?but where did that extra cash come from? > Without > > entering the gain of $50 as income, the Trial balance will fail. > > Is that really what happens? I can't understand why, if it does. Yes, you > end up with an extra $50 in cash, and you also end up with MINUS $50 in the > investment: the original debit of $100, and the sale credit of $50, leaving > a credit (minus) balance of $50. As far as I can see, the trial balance > still balances. > > Of course, a negative balance in an investment account should raise a red > flag when (if) yo notice it: "Oops, I forgot to enter the gain as a > transaction." But I don't see how it should make the trial balance fail. > > BTW, instead of a separate transaction, I might record the gain as a split: > Assets:Cash $150 debit > Assets:Investment $100 credit > Income:Gain on investments $50 credit > > Is there any disadvantage to doing that, versus two transactions? > Assets:Investment $50 debit > Income:Gain on Investments $50 credit > Assets:Cash $150 debit > Assets::Investment $150 credit > > -- > Stan Brown > the_stan_br...@fastmail.fm > http://BrownMath.com > http://OakRoadSystems.com/ > ___ > 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-use
Re: [GNC] Getting My Account To Trial Balance
If you sold an asset that is valued in units other than your currency then read the chapter of the manual about capital gains about how to enter your profit. Otherwise tell us more about the transaction where that profit appeared. David C On Fri, Jul 27, 2018, 4:11 AM H M MacDonald OBE wrote: > My accounts are showing a profit of £20.99 which shows as an Imbalance of > £20.99. Sorry to be a bit slow on all of this but are folk saying that the > £20.99 needs to be added to current assets/equity to make the trial > balance? > I¹ve tried that and it still fails. It can¹t be added to the income as a > profit since that will make the profit double. Clearly there¹s something > I¹m still not getting ŠŠŠ > > Thanks to everyone for their input so far. > > From: gnucash-user > on behalf of > Stan > Brown > Date: Thursday, 26 July 2018 at 13:21 > To: GnuCash User List > Subject: Re: [GNC] Getting My Account To Trial Balance > > David T. wrote: > > > For those who *do* have such holdings, a balanced transaction will > still fail > > the trial balance if the gain or loss isn?t entered. In this instance, > there > > will be no entries in IMBALANCE-XXX, since each transaction balances. > > Example: buy 10 shares of X for $100, using cash from your checking > account > > (credit/debit of $100). Then sell those shares for $150 (debit/credit of > > $150). > > Both transaction balance?but where did that extra cash come from? > Without > > entering the gain of $50 as income, the Trial balance will fail. > > Is that really what happens? I can't understand why, if it does. Yes, you > end up with an extra $50 in cash, and you also end up with MINUS $50 in the > investment: the original debit of $100, and the sale credit of $50, leaving > a credit (minus) balance of $50. As far as I can see, the trial balance > still balances. > > Of course, a negative balance in an investment account should raise a red > flag when (if) yo notice it: "Oops, I forgot to enter the gain as a > transaction." But I don't see how it should make the trial balance fail. > > BTW, instead of a separate transaction, I might record the gain as a split: > Assets:Cash $150 debit > Assets:Investment $100 credit > Income:Gain on investments $50 credit > > Is there any disadvantage to doing that, versus two transactions? > Assets:Investment $50 debit > Income:Gain on Investments $50 credit > Assets:Cash $150 debit > Assets::Investment $150 credit > > -- > Stan Brown > the_stan_br...@fastmail.fm > http://BrownMath.com > http://OakRoadSystems.com/ > ___ > 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. > ___ 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] Getting My Account To Trial Balance
My accounts are showing a profit of £20.99 which shows as an Imbalance of £20.99. Sorry to be a bit slow on all of this but are folk saying that the £20.99 needs to be added to current assets/equity to make the trial balance? I¹ve tried that and it still fails. It can¹t be added to the income as a profit since that will make the profit double. Clearly there¹s something I¹m still not getting Thanks to everyone for their input so far. From: gnucash-user on behalf of Stan Brown Date: Thursday, 26 July 2018 at 13:21 To: GnuCash User List Subject: Re: [GNC] Getting My Account To Trial Balance David T. wrote: > For those who *do* have such holdings, a balanced transaction will still fail > the trial balance if the gain or loss isn?t entered. In this instance, there > will be no entries in IMBALANCE-XXX, since each transaction balances. > Example: buy 10 shares of X for $100, using cash from your checking account > (credit/debit of $100). Then sell those shares for $150 (debit/credit of > $150). > Both transaction balance?but where did that extra cash come from? Without > entering the gain of $50 as income, the Trial balance will fail. Is that really what happens? I can't understand why, if it does. Yes, you end up with an extra $50 in cash, and you also end up with MINUS $50 in the investment: the original debit of $100, and the sale credit of $50, leaving a credit (minus) balance of $50. As far as I can see, the trial balance still balances. Of course, a negative balance in an investment account should raise a red flag when (if) yo notice it: "Oops, I forgot to enter the gain as a transaction." But I don't see how it should make the trial balance fail. BTW, instead of a separate transaction, I might record the gain as a split: Assets:Cash $150 debit Assets:Investment $100 credit Income:Gain on investments $50 credit Is there any disadvantage to doing that, versus two transactions? Assets:Investment $50 debit Income:Gain on Investments $50 credit Assets:Cash $150 debit Assets::Investment $150 credit -- Stan Brown the_stan_br...@fastmail.fm http://BrownMath.com http://OakRoadSystems.com/ ___ 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] Getting My Account To Trial Balance
For some reason I have not seen RTFM in this discussion yet. I do not have the manual for release 3.2 handy, but the chapter on investments in the Tutorial for the 2.6.x series is fine reading and there is an entire chapter on ways to track capital gains in GnuCash. The Trial Balance report is not mentioned in that chapter, but it does report unrealized gains as measured several different ways as the user might prefer, and it shows the resulting imbalance when profits are not converted from unrealized to realized . Over the years there have been many discussions on this userlist about the relative merits of various methods that can be used to track capital gains in GnuCash, including Trading Accounts. I do not think any one method is best for everyone. David C On Thu, Jul 26, 2018 at 7:21 AM, Stan Brown wrote: > David T. wrote: > > > For those who *do* have such holdings, a balanced transaction will still > fail > > the trial balance if the gain or loss isn?t entered. In this instance, > there > > will be no entries in IMBALANCE-XXX, since each transaction balances. > > Example: buy 10 shares of X for $100, using cash from your checking > account > > (credit/debit of $100). Then sell those shares for $150 (debit/credit of > $150). > > Both transaction balance?but where did that extra cash come from? Without > > entering the gain of $50 as income, the Trial balance will fail. > > Is that really what happens? I can't understand why, if it does. Yes, you > end up with an extra $50 in cash, and you also end up with MINUS $50 in the > investment: the original debit of $100, and the sale credit of $50, leaving > a credit (minus) balance of $50. As far as I can see, the trial balance > still balances. > > Of course, a negative balance in an investment account should raise a red > flag when (if) yo notice it: "Oops, I forgot to enter the gain as a > transaction." But I don't see how it should make the trial balance fail. > > BTW, instead of a separate transaction, I might record the gain as a split: > Assets:Cash $150 debit > Assets:Investment $100 credit > Income:Gain on investments $50 credit > > Is there any disadvantage to doing that, versus two transactions? > Assets:Investment $50 debit > Income:Gain on Investments $50 credit > Assets:Cash $150 debit > Assets::Investment $150 credit > > -- > Stan Brown > the_stan_br...@fastmail.fm > http://BrownMath.com > http://OakRoadSystems.com/ > ___ > 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] Getting My Account To Trial Balance
David T. wrote: > For those who *do* have such holdings, a balanced transaction will still fail > the trial balance if the gain or loss isn?t entered. In this instance, there > will be no entries in IMBALANCE-XXX, since each transaction balances. > Example: buy 10 shares of X for $100, using cash from your checking account > (credit/debit of $100). Then sell those shares for $150 (debit/credit of > $150). > Both transaction balance?but where did that extra cash come from? Without > entering the gain of $50 as income, the Trial balance will fail. Is that really what happens? I can't understand why, if it does. Yes, you end up with an extra $50 in cash, and you also end up with MINUS $50 in the investment: the original debit of $100, and the sale credit of $50, leaving a credit (minus) balance of $50. As far as I can see, the trial balance still balances. Of course, a negative balance in an investment account should raise a red flag when (if) yo notice it: "Oops, I forgot to enter the gain as a transaction." But I don't see how it should make the trial balance fail. BTW, instead of a separate transaction, I might record the gain as a split: Assets:Cash $150 debit Assets:Investment $100 credit Income:Gain on investments $50 credit Is there any disadvantage to doing that, versus two transactions? Assets:Investment $50 debit Income:Gain on Investments $50 credit Assets:Cash $150 debit Assets::Investment $150 credit -- Stan Brown the_stan_br...@fastmail.fm http://BrownMath.com http://OakRoadSystems.com/ ___ 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] Getting My Account To Trial Balance
David, I must admit, I knew about all of those cases, and my brain didn’t even register them. (I’m on a much simpler basis now, so generally don’t bother, or I just do the entries as I go.) It’s been nearly 20 years since I dealt with a 13 period year, but for sure, that would be a good use case. (almost a necessity for sane P&L comparisons in the restaurant biz) Of course, accruals, depreciation, yearly/quarterly expenses and such call for adjusting entries. I don’t know what I was thinking, but thanks for the well articulated list. Sorry to take your time, but others will certainly benefit. Regards, Adrien > On Jul 25, 2018, at 11:42 PM, DaveC49 wrote: > > Adrien, > > The main function of the trial balance is to ensure the accounts are > numerically correct before any adjustments to the accounts are made before > producing the final financial statements. It should be just a straight > listing of the balance (credit or debit) of all accounts in the chart of > accounts and the sum of all credits should equal the sum of all debits. > > This is usually the starting point for adjusting the accounts. Closing the > books is not just simply a transfer of the income and expenses for the > accounting period to equity. Prior to this, the accounts may require > specific adjustments which reflect the nature of the business and the > particularly the taxation rules which apply to it. Even though GnuCash is a > perpetual system it will require these adjustments to be made. This is also > the function of what was a 13 month financial year in some accounting > systems, in which the 13th virtual month was used to record and process > these adjustments without affecting the data for the 12 actual months, but > was included in the current accounting period. > > Adjustments are normally made for things which affect more than a single > accounting period like prepaid expenses, depreciation of non-current assets, > accrued expenses, accrued revenues and unearned revenues and the differences > between accounts recorded on a cash (when the money is actually received or > paid) or recorded on an accrual basis (when the income is earned (e.g. when > a report is produced in a consulting business) or expenditure is incurred in > an accounting sense in accordance with the matching principle) so that the > correct income and expenses associated with earning it are recorded in the > correct accounting period, mainly for taxation complliance. > > Not so important in personal accounting and usually many small businesses > below a specified income/turnover level where cash accounting is allowed to > be used for taxtaion purposes, but certainly significant for larger > businesses which must use accrual accounting under taxation legislation. > > An example can be in something like manufacturing where you may purchase > materials is one period (i.e. outlay the money) but you actually incur the > expenditure in another accounting period (for example when you make the > product) but the associated revenue may even be produced in a third or > subsequent accounting period in which you sell the product. > > David > > > > > > - > 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. > ___ 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] Getting My Account To Trial Balance
Adrien, The main function of the trial balance is to ensure the accounts are numerically correct before any adjustments to the accounts are made before producing the final financial statements. It should be just a straight listing of the balance (credit or debit) of all accounts in the chart of accounts and the sum of all credits should equal the sum of all debits. This is usually the starting point for adjusting the accounts. Closing the books is not just simply a transfer of the income and expenses for the accounting period to equity. Prior to this, the accounts may require specific adjustments which reflect the nature of the business and the particularly the taxation rules which apply to it. Even though GnuCash is a perpetual system it will require these adjustments to be made. This is also the function of what was a 13 month financial year in some accounting systems, in which the 13th virtual month was used to record and process these adjustments without affecting the data for the 12 actual months, but was included in the current accounting period. Adjustments are normally made for things which affect more than a single accounting period like prepaid expenses, depreciation of non-current assets, accrued expenses, accrued revenues and unearned revenues and the differences between accounts recorded on a cash (when the money is actually received or paid) or recorded on an accrual basis (when the income is earned (e.g. when a report is produced in a consulting business) or expenditure is incurred in an accounting sense in accordance with the matching principle) so that the correct income and expenses associated with earning it are recorded in the correct accounting period, mainly for taxation complliance. Not so important in personal accounting and usually many small businesses below a specified income/turnover level where cash accounting is allowed to be used for taxtaion purposes, but certainly significant for larger businesses which must use accrual accounting under taxation legislation. An example can be in something like manufacturing where you may purchase materials is one period (i.e. outlay the money) but you actually incur the expenditure in another accounting period (for example when you make the product) but the associated revenue may even be produced in a third or subsequent accounting period in which you sell the product. David - 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.
Re: [GNC] GETTING MY ACCOUNT TO TRIAL BALANCE
Hi David/Richard The error message is as follows: Report error An error occurred while running the report. It doesn’t give any clue as to what’s wrong. Thanks. Shug From: D Date: Wednesday, 25 July 2018 at 20:33 To: David Carlson , Hugh MacDonald OBE Cc: Gnucash Users Subject: Re: [GNC] GETTING MY ACCOUNT TO TRIAL BALANCE Shug, I would ask you to tell us what error message you have received, since I don't usually see any error messages when I run this report. (I do have trouble getting this report to balance, however). However, David has made useful advice regarding tracking transaction gain or loss; I would add that in Gnucash, a commodity is a broadly defined concept, and covers anything you have that is not counted in your default currency. In other words, stocks, mutual funds, as well as accounts denominated in another currency will all fall into this category, and any time you have a transaction involving thread accounts, you will need to account for gain or loss hidden in the conversion. David T On July 25, 2018, at 1:52 PM, David Carlson wrote: I assume that you mean the debits do not equal the credits rather than that GnuCash failed to generate the report. This is commonly the result of selling a commodity for a different price than what was originally paid without correctly accounting for the profit or loss. One technique to close in on a transaction contributing to the difference is to include a shorter time period in the report until the values do balance. Once the date is determined, look for a commodity transaction that is not balanced by a profit or loss. David C On Wed, Jul 25, 2018 at 12:20 PM, H Millar MacDonald OBE < spahonsec...@gmail.com> wrote: > Hi > > I¹ve just become involved with GnuCash 3.2 and set up my first accounts for > our club. It all looks okay except and will provide a profit and loss > report on Income and Expenditure which is good. However, when I try to > get > a Trial Balance I get an error message which according to Google seems to > be > quite common. I don¹t know where to start to fix this. Can anyone offer > any advice please? I am an absolute novice at all of this so please be > patient with my request. > > Many thanks. > > Shug > > > ___ > 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. ___ 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] Getting My Account To Trial Balance
I’ll give 3.3 a try and test. I seem to recall this error in the past and then it was working again because I recall helping someone hunt down an issue with this report in April or May. (I was supposed to file a bug report on how foreign currency balances are calculated for the report, but I think Christopher Lam's upcoming report changes are going to render that moot) Regards, Adrien > On Jul 25, 2018, at 11:21 PM, David Carlson > wrote: > > David T, > > Yes, I trade securities and GnuCash can handle my books as well as it can a > very simple set of books. > Shug had indicated in an earlier message that in this case there was only one > currency and no securities and Adrien and I were trying to tailor our answers > to his case. > > David C > > > > On Wed, Jul 25, 2018, 8:51 PM David T. wrote: > David, > > I imagine that the number of GnuCash users who only have accounts in a single > currency (i.e., without any investments in stocks, mutual funds, or other > commodities) is probably pretty small. > > For those who *do* have such holdings, a balanced transaction will still fail > the trial balance if the gain or loss isn’t entered. In this instance, there > will be no entries in IMBALANCE-XXX, since each transaction balances. > Example: buy 10 shares of X for $100, using cash from your checking account > (credit/debit of $100). Then sell those shares for $150 (debit/credit of > $150). Both transaction balance—but where did that extra cash come from? > Without entering the gain of $50 as income, the Trial balance will fail. You > can enter that gain manually, or use trading accounts or the scrub lots > feature to help manage this. > > David T. > > On July 25, 2018 at 7:45:10 PM, David Carlson (david.carlson@gmail.com) > wrote: > >> I have no experience with release 3.2 or with High Sierra, so I hope others >> can help Shug with reports. >> >> As Adrien Monteleone and David T both point out, the Trial Balance report >> may be of little or no value to users who only use one currency and do not >> buy or sell stock or other commodities. You could probably skip that >> report altogether. >> >> GnuCash forces every transaction to either be a perfectly balanced double >> entry transaction in one currency or it automatically adds one of the two >> accounts that Adrien Monteleone mentioned. When those are equal to zero, >> your books are balanced >> >> The Trial Balance report is for users with more complex needs. >> >> David C. >> >> On Wed, Jul 25, 2018 at 6:05 PM, Adrien Monteleone < >> adrien.montele...@lusfiber.net> wrote: >> >> > I get that same error. (MacOS High Sierra, GnuCash 3.2) >> > >> > My suspicion is misconfigured report options, but I’m not familiar with >> > the report enough to know which one(s). I never bother with this report >> > because I don’t use the Close Books function. I also don’t really >> > understand it’s purpose with a perpetual system in light of the existence >> > of the orphan-xxx and imbalance-xxx accounts. If those are both zero, how >> > does one still need to adjust anything before closing books? >> > >> > Regards, >> > Adrien >> > >> > > On Jul 25, 2018, at 5:49 PM, David Carlson >> > wrote: >> > > >> > > That is a bird of a different feather. Then it will help to know which >> > > release you are using and what operating system your computer has, >> > because >> > > the solution may be to switch to a different release or to try some more >> > > complex debugging if you are up to it. >> > > >> > > Do include gnucash-user@gnucash.org in every reply so other users see >> > the >> > > comments. >> > > >> > > David C >> > > >> > > On Wed, Jul 25, 2018 at 3:13 PM, H M MacDonald OBE < >> > sassunach...@gmail.com> >> > > wrote: >> > > >> > >> Hi David/Richard >> > >> >> > >> The error message is as follows: >> > >> >> > >> *Report error* >> > >> >> > >> *An error occurred while running the report.* >> > >> >> > >> It doesn’t give any clue as to what’s wrong. >> > >> >> > >> Thanks. >> > >> >> > >> Shug >> > >> >> > >> From: D >> > >> Date: Wednesday, 25 July 2018 at 20:33 >> > >> To: David Carlson , Hugh MacDonald OBE &
Re: [GNC] Getting My Account To Trial Balance
David T, Yes, I trade securities and GnuCash can handle my books as well as it can a very simple set of books. Shug had indicated in an earlier message that in this case there was only one currency and no securities and Adrien and I were trying to tailor our answers to his case. David C On Wed, Jul 25, 2018, 8:51 PM David T. wrote: > David, > > I imagine that the number of GnuCash users who only have accounts in a > single currency (i.e., without any investments in stocks, mutual funds, or > other commodities) is probably pretty small. > > For those who *do* have such holdings, a balanced transaction will still > fail the trial balance if the gain or loss isn’t entered. In this instance, > there will be no entries in IMBALANCE-XXX, since each transaction balances. > Example: buy 10 shares of X for $100, using cash from your checking account > (credit/debit of $100). Then sell those shares for $150 (debit/credit of > $150). Both transaction balance—but where did that extra cash come from? > Without entering the gain of $50 as income, the Trial balance will fail. > You can enter that gain manually, or use trading accounts or the scrub lots > feature to help manage this. > > David T. > > On July 25, 2018 at 7:45:10 PM, David Carlson (david.carlson@gmail.com) > wrote: > > I have no experience with release 3.2 or with High Sierra, so I hope others > can help Shug with reports. > > As Adrien Monteleone and David T both point out, the Trial Balance report > may be of little or no value to users who only use one currency and do not > buy or sell stock or other commodities. You could probably skip that > report altogether. > > GnuCash forces every transaction to either be a perfectly balanced double > entry transaction in one currency or it automatically adds one of the two > accounts that Adrien Monteleone mentioned. When those are equal to zero, > your books are balanced > > The Trial Balance report is for users with more complex needs. > > David C. > > On Wed, Jul 25, 2018 at 6:05 PM, Adrien Monteleone < > adrien.montele...@lusfiber.net> wrote: > > > I get that same error. (MacOS High Sierra, GnuCash 3.2) > > > > My suspicion is misconfigured report options, but I’m not familiar with > > the report enough to know which one(s). I never bother with this report > > because I don’t use the Close Books function. I also don’t really > > understand it’s purpose with a perpetual system in light of the existence > > of the orphan-xxx and imbalance-xxx accounts. If those are both zero, how > > does one still need to adjust anything before closing books? > > > > Regards, > > Adrien > > > > > On Jul 25, 2018, at 5:49 PM, David Carlson < > david.carlson@gmail.com> > > wrote: > > > > > > That is a bird of a different feather. Then it will help to know which > > > release you are using and what operating system your computer has, > > because > > > the solution may be to switch to a different release or to try some > more > > > complex debugging if you are up to it. > > > > > > Do include gnucash-user@gnucash.org in every reply so other users see > > the > > > comments. > > > > > > David C > > > > > > On Wed, Jul 25, 2018 at 3:13 PM, H M MacDonald OBE < > > sassunach...@gmail.com> > > > wrote: > > > > > >> Hi David/Richard > > >> > > >> The error message is as follows: > > >> > > >> *Report error* > > >> > > >> *An error occurred while running the report.* > > >> > > >> It doesn’t give any clue as to what’s wrong. > > >> > > >> Thanks. > > >> > > >> Shug > > >> > > >> From: D > > >> Date: Wednesday, 25 July 2018 at 20:33 > > >> To: David Carlson , Hugh MacDonald OBE < > > >> spahonsec...@gmail.com> > > >> Cc: Gnucash Users > > >> Subject: Re: [GNC] GETTING MY ACCOUNT TO TRIAL BALANCE > > >> > > >> Shug, > > >> > > >> I would ask you to tell us what error message you have received, > since I > > >> don't usually see any error messages when I run this report. (I do > have > > >> trouble getting this report to balance, however). > > >> > > >> However, David has made useful advice regarding tracking transaction > > gain > > >> or loss; I would add that in Gnucash, a commodity is a broadly defined > > >> concept, and covers anything you have that is not counted in your
Re: [GNC] Getting My Account To Trial Balance
David, I imagine that the number of GnuCash users who only have accounts in a single currency (i.e., without any investments in stocks, mutual funds, or other commodities) is probably pretty small. For those who *do* have such holdings, a balanced transaction will still fail the trial balance if the gain or loss isn’t entered. In this instance, there will be no entries in IMBALANCE-XXX, since each transaction balances. Example: buy 10 shares of X for $100, using cash from your checking account (credit/debit of $100). Then sell those shares for $150 (debit/credit of $150). Both transaction balance—but where did that extra cash come from? Without entering the gain of $50 as income, the Trial balance will fail. You can enter that gain manually, or use trading accounts or the scrub lots feature to help manage this. David T. On July 25, 2018 at 7:45:10 PM, David Carlson (david.carlson@gmail.com) wrote: I have no experience with release 3.2 or with High Sierra, so I hope others can help Shug with reports. As Adrien Monteleone and David T both point out, the Trial Balance report may be of little or no value to users who only use one currency and do not buy or sell stock or other commodities. You could probably skip that report altogether. GnuCash forces every transaction to either be a perfectly balanced double entry transaction in one currency or it automatically adds one of the two accounts that Adrien Monteleone mentioned. When those are equal to zero, your books are balanced The Trial Balance report is for users with more complex needs. David C. On Wed, Jul 25, 2018 at 6:05 PM, Adrien Monteleone < adrien.montele...@lusfiber.net> wrote: > I get that same error. (MacOS High Sierra, GnuCash 3.2) > > My suspicion is misconfigured report options, but I’m not familiar with > the report enough to know which one(s). I never bother with this report > because I don’t use the Close Books function. I also don’t really > understand it’s purpose with a perpetual system in light of the existence > of the orphan-xxx and imbalance-xxx accounts. If those are both zero, how > does one still need to adjust anything before closing books? > > Regards, > Adrien > > > On Jul 25, 2018, at 5:49 PM, David Carlson > wrote: > > > > That is a bird of a different feather. Then it will help to know which > > release you are using and what operating system your computer has, > because > > the solution may be to switch to a different release or to try some more > > complex debugging if you are up to it. > > > > Do include gnucash-user@gnucash.org in every reply so other users see > the > > comments. > > > > David C > > > > On Wed, Jul 25, 2018 at 3:13 PM, H M MacDonald OBE < > sassunach...@gmail.com> > > wrote: > > > >> Hi David/Richard > >> > >> The error message is as follows: > >> > >> *Report error* > >> > >> *An error occurred while running the report.* > >> > >> It doesn’t give any clue as to what’s wrong. > >> > >> Thanks. > >> > >> Shug > >> > >> From: D > >> Date: Wednesday, 25 July 2018 at 20:33 > >> To: David Carlson , Hugh MacDonald OBE < > >> spahonsec...@gmail.com> > >> Cc: Gnucash Users > >> Subject: Re: [GNC] GETTING MY ACCOUNT TO TRIAL BALANCE > >> > >> Shug, > >> > >> I would ask you to tell us what error message you have received, since I > >> don't usually see any error messages when I run this report. (I do have > >> trouble getting this report to balance, however). > >> > >> However, David has made useful advice regarding tracking transaction > gain > >> or loss; I would add that in Gnucash, a commodity is a broadly defined > >> concept, and covers anything you have that is not counted in your > default > >> currency. > >> > >> In other words, stocks, mutual funds, as well as accounts denominated in > >> another currency will all fall into this category, and any time you > have a > >> transaction involving thread accounts, you will need to account for > gain or > >> loss hidden in the conversion. > >> > >> David T > >> > >> On July 25, 2018, at 1:52 PM, David Carlson < > david.carlson@gmail.com> > >> wrote: > >> > >> I assume that you mean the debits do not equal the credits rather than > that > >> GnuCash failed to generate the report. > >> > >> This is commonly the result of selling a commodity for a different price > >> than what was originally paid without correctly accounting for the
Re: [GNC] GETTING MY ACCOUNT TO TRIAL BALANCE
You've hit the known bug https://bugs.gnucash.org/show_bug.cgi?id=796696 - this will be fixed in v3.3 so perhaps you can try the previous version 3.1 for now, or wait a few weeks. On 26 July 2018 at 07:11, H Millar MacDonald OBE wrote: > Thanks David. The release is 3.2 and the OS is High Sierra. I’m not very > savvy so complex debugging is probably beyond me. If all else fails then i > can do the trial balance manually but it rather defeats the purpose. > > Shug > > > On 25 Jul 2018, at 23:49, David Carlson > wrote: > > > > That is a bird of a different feather. Then it will help to know which > release you are using and what operating system your computer has, because > the solution may be to switch to a different release or to try some more > complex debugging if you are up to it. > > > > Do include gnucash-user@gnucash.org in every reply so other users see > the comments. > > > > David C > > > >> On Wed, Jul 25, 2018 at 3:13 PM, H M MacDonald OBE < > sassunach...@gmail.com> wrote: > >> Hi David/Richard > >> > >> The error message is as follows: > >> > >> Report error > >> > >> An error occurred while running the report. > >> > >> It doesn’t give any clue as to what’s wrong. > >> > >> Thanks. > >> > >> Shug > >> > >> From: D > >> Date: Wednesday, 25 July 2018 at 20:33 > >> To: David Carlson , Hugh MacDonald OBE < > spahonsec...@gmail.com> > >> Cc: Gnucash Users > >> Subject: Re: [GNC] GETTING MY ACCOUNT TO TRIAL BALANCE > >> > >> Shug, > >> > >> I would ask you to tell us what error message you have received, since > I don't usually see any error messages when I run this report. (I do have > trouble getting this report to balance, however). > >> > >> However, David has made useful advice regarding tracking transaction > gain or loss; I would add that in Gnucash, a commodity is a broadly defined > concept, and covers anything you have that is not counted in your default > currency. > >> > >> In other words, stocks, mutual funds, as well as accounts denominated > in another currency will all fall into this category, and any time you have > a transaction involving thread accounts, you will need to account for gain > or loss hidden in the conversion. > >> > >> David T > >> > >> On July 25, 2018, at 1:52 PM, David Carlson < > david.carlson@gmail.com> wrote: > >> > >> I assume that you mean the debits do not equal the credits rather than > that > >> GnuCash failed to generate the report. > >> > >> This is commonly the result of selling a commodity for a different price > >> than what was originally paid without correctly accounting for the > profit > >> or loss. One technique to close in on a transaction contributing to the > >> difference is to include a shorter time period in the report until the > >> values do balance. Once the date is determined, look for a commodity > >> transaction that is not balanced by a profit or loss. > >> > >> David C > >> > >> On Wed, Jul 25, 2018 at 12:20 PM, H Millar MacDonald OBE < > >> spahonsec...@gmail.com> wrote: > >> > >> Hi > >> > >> I¹ve just become involved with GnuCash 3.2 and set up my first accounts > for > >> our club. It all looks okay except and will provide a profit and loss > >> report on Income and Expenditure which is good. However, when I try to > >> get > >> a Trial Balance I get an error message which according to Google seems > to > >> be > >> quite common. I don¹t know where to start to fix this. Can anyone > offer > >> any advice please? I am an absolute novice at all of this so please be > >> patient with my request. > >> > >> Many thanks. > >> > >> Shug > >> > >> > >> ___ > >> 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] Getting My Account To Trial Balance
I have no experience with release 3.2 or with High Sierra, so I hope others can help Shug with reports. As Adrien Monteleone and David T both point out, the Trial Balance report may be of little or no value to users who only use one currency and do not buy or sell stock or other commodities. You could probably skip that report altogether. GnuCash forces every transaction to either be a perfectly balanced double entry transaction in one currency or it automatically adds one of the two accounts that Adrien Monteleone mentioned. When those are equal to zero, your books are balanced The Trial Balance report is for users with more complex needs. David C. On Wed, Jul 25, 2018 at 6:05 PM, Adrien Monteleone < adrien.montele...@lusfiber.net> wrote: > I get that same error. (MacOS High Sierra, GnuCash 3.2) > > My suspicion is misconfigured report options, but I’m not familiar with > the report enough to know which one(s). I never bother with this report > because I don’t use the Close Books function. I also don’t really > understand it’s purpose with a perpetual system in light of the existence > of the orphan-xxx and imbalance-xxx accounts. If those are both zero, how > does one still need to adjust anything before closing books? > > Regards, > Adrien > > > On Jul 25, 2018, at 5:49 PM, David Carlson > wrote: > > > > That is a bird of a different feather. Then it will help to know which > > release you are using and what operating system your computer has, > because > > the solution may be to switch to a different release or to try some more > > complex debugging if you are up to it. > > > > Do include gnucash-user@gnucash.org in every reply so other users see > the > > comments. > > > > David C > > > > On Wed, Jul 25, 2018 at 3:13 PM, H M MacDonald OBE < > sassunach...@gmail.com> > > wrote: > > > >> Hi David/Richard > >> > >> The error message is as follows: > >> > >> *Report error* > >> > >> *An error occurred while running the report.* > >> > >> It doesn’t give any clue as to what’s wrong. > >> > >> Thanks. > >> > >> Shug > >> > >> From: D > >> Date: Wednesday, 25 July 2018 at 20:33 > >> To: David Carlson , Hugh MacDonald OBE < > >> spahonsec...@gmail.com> > >> Cc: Gnucash Users > >> Subject: Re: [GNC] GETTING MY ACCOUNT TO TRIAL BALANCE > >> > >> Shug, > >> > >> I would ask you to tell us what error message you have received, since I > >> don't usually see any error messages when I run this report. (I do have > >> trouble getting this report to balance, however). > >> > >> However, David has made useful advice regarding tracking transaction > gain > >> or loss; I would add that in Gnucash, a commodity is a broadly defined > >> concept, and covers anything you have that is not counted in your > default > >> currency. > >> > >> In other words, stocks, mutual funds, as well as accounts denominated in > >> another currency will all fall into this category, and any time you > have a > >> transaction involving thread accounts, you will need to account for > gain or > >> loss hidden in the conversion. > >> > >> David T > >> > >> On July 25, 2018, at 1:52 PM, David Carlson < > david.carlson@gmail.com> > >> wrote: > >> > >> I assume that you mean the debits do not equal the credits rather than > that > >> GnuCash failed to generate the report. > >> > >> This is commonly the result of selling a commodity for a different price > >> than what was originally paid without correctly accounting for the > profit > >> or loss. One technique to close in on a transaction contributing to the > >> difference is to include a shorter time period in the report until the > >> values do balance. Once the date is determined, look for a commodity > >> transaction that is not balanced by a profit or loss. > >> > >> David C > >> > >> On Wed, Jul 25, 2018 at 12:20 PM, H Millar MacDonald OBE < > >> spahonsec...@gmail.com> wrote: > >> > >> Hi > >> > >> I¹ve just become involved with GnuCash 3.2 and set up my first accounts > for > >> our club. It all looks okay except and will provide a profit and loss > >> report on Income and Expenditure which is good. However, when I try to > >> get > >> a Trial Balance I get an error m
Re: [GNC] GETTING MY ACCOUNT TO TRIAL BALANCE
On Thu, 26 Jul 2018, H Millar MacDonald OBE wrote: The release is 3.2 and the OS is High Sierra. I’m not very savvy so complex debugging is probably beyond me. If all else fails then i can do the trial balance manually but it rather defeats the purpose. My accountant likes to see a trial balance for each bank account when I send her tax information. It's a quick check of errors. That's what I use it for, too. Rich ___ 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] GETTING MY ACCOUNT TO TRIAL BALANCE
Thanks David. The release is 3.2 and the OS is High Sierra. I’m not very savvy so complex debugging is probably beyond me. If all else fails then i can do the trial balance manually but it rather defeats the purpose. Shug > On 25 Jul 2018, at 23:49, David Carlson wrote: > > That is a bird of a different feather. Then it will help to know which > release you are using and what operating system your computer has, because > the solution may be to switch to a different release or to try some more > complex debugging if you are up to it. > > Do include gnucash-user@gnucash.org in every reply so other users see the > comments. > > David C > >> On Wed, Jul 25, 2018 at 3:13 PM, H M MacDonald OBE >> wrote: >> Hi David/Richard >> >> The error message is as follows: >> >> Report error >> >> An error occurred while running the report. >> >> It doesn’t give any clue as to what’s wrong. >> >> Thanks. >> >> Shug >> >> From: D >> Date: Wednesday, 25 July 2018 at 20:33 >> To: David Carlson , Hugh MacDonald OBE >> >> Cc: Gnucash Users >> Subject: Re: [GNC] GETTING MY ACCOUNT TO TRIAL BALANCE >> >> Shug, >> >> I would ask you to tell us what error message you have received, since I >> don't usually see any error messages when I run this report. (I do have >> trouble getting this report to balance, however). >> >> However, David has made useful advice regarding tracking transaction gain or >> loss; I would add that in Gnucash, a commodity is a broadly defined concept, >> and covers anything you have that is not counted in your default currency. >> >> In other words, stocks, mutual funds, as well as accounts denominated in >> another currency will all fall into this category, and any time you have a >> transaction involving thread accounts, you will need to account for gain or >> loss hidden in the conversion. >> >> David T >> >> On July 25, 2018, at 1:52 PM, David Carlson >> wrote: >> >> I assume that you mean the debits do not equal the credits rather than that >> GnuCash failed to generate the report. >> >> This is commonly the result of selling a commodity for a different price >> than what was originally paid without correctly accounting for the profit >> or loss. One technique to close in on a transaction contributing to the >> difference is to include a shorter time period in the report until the >> values do balance. Once the date is determined, look for a commodity >> transaction that is not balanced by a profit or loss. >> >> David C >> >> On Wed, Jul 25, 2018 at 12:20 PM, H Millar MacDonald OBE < >> spahonsec...@gmail.com> wrote: >> >> Hi >> >> I¹ve just become involved with GnuCash 3.2 and set up my first accounts for >> our club. It all looks okay except and will provide a profit and loss >> report on Income and Expenditure which is good. However, when I try to >> get >> a Trial Balance I get an error message which according to Google seems to >> be >> quite common. I don¹t know where to start to fix this. Can anyone offer >> any advice please? I am an absolute novice at all of this so please be >> patient with my request. >> >> Many thanks. >> >> Shug >> >> >> ___ >> 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. > ___ 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] Getting My Account To Trial Balance
I get that same error. (MacOS High Sierra, GnuCash 3.2) My suspicion is misconfigured report options, but I’m not familiar with the report enough to know which one(s). I never bother with this report because I don’t use the Close Books function. I also don’t really understand it’s purpose with a perpetual system in light of the existence of the orphan-xxx and imbalance-xxx accounts. If those are both zero, how does one still need to adjust anything before closing books? Regards, Adrien > On Jul 25, 2018, at 5:49 PM, David Carlson > wrote: > > That is a bird of a different feather. Then it will help to know which > release you are using and what operating system your computer has, because > the solution may be to switch to a different release or to try some more > complex debugging if you are up to it. > > Do include gnucash-user@gnucash.org in every reply so other users see the > comments. > > David C > > On Wed, Jul 25, 2018 at 3:13 PM, H M MacDonald OBE > wrote: > >> Hi David/Richard >> >> The error message is as follows: >> >> *Report error* >> >> *An error occurred while running the report.* >> >> It doesn’t give any clue as to what’s wrong. >> >> Thanks. >> >> Shug >> >> From: D >> Date: Wednesday, 25 July 2018 at 20:33 >> To: David Carlson , Hugh MacDonald OBE < >> spahonsec...@gmail.com> >> Cc: Gnucash Users >> Subject: Re: [GNC] GETTING MY ACCOUNT TO TRIAL BALANCE >> >> Shug, >> >> I would ask you to tell us what error message you have received, since I >> don't usually see any error messages when I run this report. (I do have >> trouble getting this report to balance, however). >> >> However, David has made useful advice regarding tracking transaction gain >> or loss; I would add that in Gnucash, a commodity is a broadly defined >> concept, and covers anything you have that is not counted in your default >> currency. >> >> In other words, stocks, mutual funds, as well as accounts denominated in >> another currency will all fall into this category, and any time you have a >> transaction involving thread accounts, you will need to account for gain or >> loss hidden in the conversion. >> >> David T >> >> On July 25, 2018, at 1:52 PM, David Carlson >> wrote: >> >> I assume that you mean the debits do not equal the credits rather than that >> GnuCash failed to generate the report. >> >> This is commonly the result of selling a commodity for a different price >> than what was originally paid without correctly accounting for the profit >> or loss. One technique to close in on a transaction contributing to the >> difference is to include a shorter time period in the report until the >> values do balance. Once the date is determined, look for a commodity >> transaction that is not balanced by a profit or loss. >> >> David C >> >> On Wed, Jul 25, 2018 at 12:20 PM, H Millar MacDonald OBE < >> spahonsec...@gmail.com> wrote: >> >> Hi >> >> I¹ve just become involved with GnuCash 3.2 and set up my first accounts for >> our club. It all looks okay except and will provide a profit and loss >> report on Income and Expenditure which is good. However, when I try to >> get >> a Trial Balance I get an error message which according to Google seems to >> be >> quite common. I don¹t know where to start to fix this. Can anyone offer >> any advice please? I am an absolute novice at all of this so please be >> patient with my request. >> >> Many thanks. >> >> Shug >> >> >> ___ >> 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
Re: [GNC] GETTING MY ACCOUNT TO TRIAL BALANCE
That is a bird of a different feather. Then it will help to know which release you are using and what operating system your computer has, because the solution may be to switch to a different release or to try some more complex debugging if you are up to it. Do include gnucash-user@gnucash.org in every reply so other users see the comments. David C On Wed, Jul 25, 2018 at 3:13 PM, H M MacDonald OBE wrote: > Hi David/Richard > > The error message is as follows: > > *Report error* > > *An error occurred while running the report.* > > It doesn’t give any clue as to what’s wrong. > > Thanks. > > Shug > > From: D > Date: Wednesday, 25 July 2018 at 20:33 > To: David Carlson , Hugh MacDonald OBE < > spahonsec...@gmail.com> > Cc: Gnucash Users > Subject: Re: [GNC] GETTING MY ACCOUNT TO TRIAL BALANCE > > Shug, > > I would ask you to tell us what error message you have received, since I > don't usually see any error messages when I run this report. (I do have > trouble getting this report to balance, however). > > However, David has made useful advice regarding tracking transaction gain > or loss; I would add that in Gnucash, a commodity is a broadly defined > concept, and covers anything you have that is not counted in your default > currency. > > In other words, stocks, mutual funds, as well as accounts denominated in > another currency will all fall into this category, and any time you have a > transaction involving thread accounts, you will need to account for gain or > loss hidden in the conversion. > > David T > > On July 25, 2018, at 1:52 PM, David Carlson > wrote: > > I assume that you mean the debits do not equal the credits rather than that > GnuCash failed to generate the report. > > This is commonly the result of selling a commodity for a different price > than what was originally paid without correctly accounting for the profit > or loss. One technique to close in on a transaction contributing to the > difference is to include a shorter time period in the report until the > values do balance. Once the date is determined, look for a commodity > transaction that is not balanced by a profit or loss. > > David C > > On Wed, Jul 25, 2018 at 12:20 PM, H Millar MacDonald OBE < > spahonsec...@gmail.com> wrote: > > Hi > > I¹ve just become involved with GnuCash 3.2 and set up my first accounts for > our club. It all looks okay except and will provide a profit and loss > report on Income and Expenditure which is good. However, when I try to > get > a Trial Balance I get an error message which according to Google seems to > be > quite common. I don¹t know where to start to fix this. Can anyone offer > any advice please? I am an absolute novice at all of this so please be > patient with my request. > > Many thanks. > > Shug > > > ___ > 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. > ___ 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] GETTING MY ACCOUNT TO TRIAL BALANCE
Shug, I would ask you to tell us what error message you have received, since I don't usually see any error messages when I run this report. (I do have trouble getting this report to balance, however). However, David has made useful advice regarding tracking transaction gain or loss; I would add that in Gnucash, a commodity is a broadly defined concept, and covers anything you have that is not counted in your default currency. In other words, stocks, mutual funds, as well as accounts denominated in another currency will all fall into this category, and any time you have a transaction involving thread accounts, you will need to account for gain or loss hidden in the conversion. David T On July 25, 2018, at 1:52 PM, David Carlson wrote: I assume that you mean the debits do not equal the credits rather than that GnuCash failed to generate the report. This is commonly the result of selling a commodity for a different price than what was originally paid without correctly accounting for the profit or loss. One technique to close in on a transaction contributing to the difference is to include a shorter time period in the report until the values do balance. Once the date is determined, look for a commodity transaction that is not balanced by a profit or loss. David C On Wed, Jul 25, 2018 at 12:20 PM, H Millar MacDonald OBE < spahonsec...@gmail.com> wrote: > Hi > > I¹ve just become involved with GnuCash 3.2 and set up my first accounts for > our club. It all looks okay except and will provide a profit and loss > report on Income and Expenditure which is good. However, when I try to > get > a Trial Balance I get an error message which according to Google seems to > be > quite common. I don¹t know where to start to fix this. Can anyone offer > any advice please? I am an absolute novice at all of this so please be > patient with my request. > > Many thanks. > > Shug > > > ___ > 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. ___ 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] GETTING MY ACCOUNT TO TRIAL BALANCE
On Wed, 25 Jul 2018, H Millar MacDonald OBE wrote: However, when I try to get a Trial Balance I get an error message which according to Google seems to be quite common. I don¹t know where to start to fix this. Can anyone offer any advice please? I am an absolute novice at all of this so please be patient with my request. Shug, It would help folks to help you if you provide the error message you see. Rich ___ 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] GETTING MY ACCOUNT TO TRIAL BALANCE
I assume that you mean the debits do not equal the credits rather than that GnuCash failed to generate the report. This is commonly the result of selling a commodity for a different price than what was originally paid without correctly accounting for the profit or loss. One technique to close in on a transaction contributing to the difference is to include a shorter time period in the report until the values do balance. Once the date is determined, look for a commodity transaction that is not balanced by a profit or loss. David C On Wed, Jul 25, 2018 at 12:20 PM, H Millar MacDonald OBE < spahonsec...@gmail.com> wrote: > Hi > > I¹ve just become involved with GnuCash 3.2 and set up my first accounts for > our club. It all looks okay except and will provide a profit and loss > report on Income and Expenditure which is good. However, when I try to > get > a Trial Balance I get an error message which according to Google seems to > be > quite common. I don¹t know where to start to fix this. Can anyone offer > any advice please? I am an absolute novice at all of this so please be > patient with my request. > > Many thanks. > > Shug > > > ___ > 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.
