On Tue, 19 Jun 2001 09:22:43 Robin Coon wrote: > Eric Schwartz wrote: > > > >The current thing that is blocking me is setting up a brokerage > > >account. > > > > > >Create all the relevant commodities first (check) > > >Create "accounts" for each commodity in the brokerage account (check) > > >Create an account for cash on hand in the brokerage account (check) > > > > > >but how to I assign the initial values? I have 60 shares of this > > >stock, and 32 of that one, and I can't figure out how to put this > > >information all in. I thought about putting "buy" > > >transactions in > > >place for each stock, using the correct date (that would be most > > >useful anyway), but the money has to come from somewhere... THis is > > >getting really confusing. > > > > I assume you bought these before the period you started tracking from? > > In that case, I'm in the same situation. What I did was to enter buy > > transactions at the relevant dates and prices, and transferred the > > money from the Equity:Opening Balances account. Since I wasn't using > > gnucash back when I bought most of the stock, I figure that's more or > > less what it's for. > > > > Mind you, I know jack about accounting, and even less about gnucash, > > so I welcome rebuttal from someone who actually knows what they're > > talking about. > > > > -=Eric > > Please forgive me if I sound clueless about GNUCash, I am very new to it > and just started subscribing to the mail list. I do hope that with my > accounting background (dangerously close to completing licensing for my > CPA designation and I work at a large accounting firm) I can make some > contribution. > > >From an accounting perspective, the transactions that are most relevant > at > this time are those that occur during the current tax year (Jan 1, 2001 - > Dec 31, 2001). When you initially set up your brokerage accounts, the > offset to the account should be Equity: Opening Balance. So your "cash" > for those initial buy transactions to get your securities into GNUCash > would be Equity. That sounds pretty correct to me. -- ------------------------------------------------------------ Robert Merkel [EMAIL PROTECTED] Go You Big Red Fire Engine -- Unknown Audience Member at Adam Hills standup gig ------------------------------------------------------------ _______________________________________________ gnucash-devel mailing list [EMAIL PROTECTED] http://www.gnumatic.com/cgi-bin/mailman/listinfo/gnucash-devel