> Hi all
>
> I'm using gnucash V1.3.0. Nice piece of soft ;-)
>
>
> My problem:
> How could I give an initial value to an account?
>
> So with double entry, it's impossible to have initial value for an
> account.
>
> Is there a solution I missed or is it something interesting to add to
> the soft?
Obviously, this is something that accountants using double entry have
had to deal with for 700 years or so...
The solution is to use an equity account. In my Chart of Accounts, I
have an equity account called "Net Worth". So when I said "I started
with $20,000 in student loan debt", I transfered that $20,000 from net
worth. Similarly, my starting bank balances were transfered from net
worth.
It shouldn't bother a balance sheet, since traditionally balance sheets
have balanced assets against liabilities and equities. It doesn't
bother income statements because income statements don't look at equity
accounts either.
>
> Best regards
> --
> -°) Patrick Valsecchi
> /\\
> _\_v http://dante.urbanet.ch/~patrick/index.html
>
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>
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