Hi Derek, Thanks for your advice, however, I'm still not sure what to do with the balances I had on 12/31/2020 in my Equity Accounts (Additional-Paid-In-Capital, Opening Balances, and Retained Earnings accounts) and how to add them to the beginning balances as of 01/01/2021.
Could you clarify? Kind Regards *Jose A. Lorido III* Managing Director *Infrastructure Engineering & Procurement Company LLC (IEPCO)* *Continental International Supply Company (CISCO)* *FHC Atares Group LLC* 100 Edgewater Drive, #345 Coral Gables, FL 33133 Tel: (305) 215-5076 E-Mails: ie...@aol.com, ciscosup...@aol.com, fhcata...@gmail.com [image: GIFlogoColorSmall.gif] On Thu, Apr 22, 2021 at 1:07 PM Derek Atkins <de...@ihtfp.com> wrote: > Hi, > > On Thu, April 22, 2021 12:55 pm, Jose A. Lorido III wrote: > > Thanks David for your advice.......... > > > > I was able to place the Opening Balances on my ASSET and LIABILITY > > accounts, but I cannot seem to be able to add the Opening Balances to my > > EQUITY accounts (Additional-Paid-In-Capital, Opening Balances, and > > Retained > > Earnings accounts). > > > > Can you help on how to place the Beginning Balances on these EQUITY > > accounts? > > It rarely makes sense to do that. You'd just be transferring from one > equity account to another, which wouldn't actually change your equity. > > If you NEED to do it, you can manually create it... Or you can adjust > your Asset and Liability O-B txns to split into the required equity > buckets. But really, if you're just starting your accounting, you > wouldn't have any retained earnings. > > > > > Thanks, > > -derek > > > > > > > Kind Regards > > *Jose A. Lorido III* > > Managing Director > > > > *Infrastructure Engineering & Procurement Company LLC (IEPCO)* > > *Continental International Supply Company (CISCO)* > > *FHC Atares Group LLC* > > 100 Edgewater Drive, #345 > > Coral Gables, FL 33133 > > Tel: (305) 215-5076 > > E-Mails: ie...@aol.com, ciscosup...@aol.com, fhcata...@gmail.com > > [image: GIFlogoColorSmall.gif] > > > > > > > > On Thu, Apr 22, 2021 at 12:26 PM D. <sunfis...@yahoo.com> wrote: > > > >> From the Tutorial & Concepts Guide, section 5.1: > >> > >> You can enter this [the opening balance] in the account information > >> window > >> automatically as part of the New Account Hierarchy Setup assistant, or > >> you > >> can enter a manual transaction directly in the account. To enter the > >> transaction manually, enter a transfer from an Opening Balances account > >> (type equity) to the bank account. > >> > >> HTH, > >> David T. > >> > >> > >> -------- Original Message -------- > >> From: "Jose A. Lorido III" <fhcata...@gmail.com> > >> Sent: Thu Apr 22 11:37:01 EDT 2021 > >> To: gnucash-user@gnucash.org > >> Cc: GnuCash-User <gnucash-u...@lists.gnucash.org>, "Jose A. Lorido III" > >> < > >> ciscosup...@aol.com>, "Jose A Lorido, III" <ie...@aol.com> > >> Subject: [GNC] Inserting the Beginning Balances of Accounts in Gnucash > >> > >> Hello, > >> > >> I would like to utilize Gnucash for 2021, and have the balances of all > >> my > >> accounts as of 12/31/2020. > >> > >> Can anyone advise on how to insert these beginning balances into their > >> corresponding accounts? > >> > >> Any help would be greatly appreciated........... > >> > >> > >> Kind Regards > >> *Jose A. Lorido III* > >> Managing Director > >> > >> *Infrastructure Engineering & Procurement Company LLC (IEPCO)* > >> *Continental International Supply Company (CISCO)* > >> *FHC Atares Group LLC* > >> 100 Edgewater Drive, #345 > >> Coral Gables, FL 33133 > >> Tel: (305) 215-5076 > >> E-Mails: ie...@aol.com, ciscosup...@aol.com, fhcata...@gmail.com > >> [image: GIFlogoColorSmall.gif] > >> > >> > >> ------------------------------------------------------------------------ > >> > >> _______________________________________________ > >> 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. > > > > > -- > Derek Atkins 617-623-3745 > de...@ihtfp.com www.ihtfp.com > Computer and Internet Security Consultant > >
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