Hi Jose, The process of adding the opening balances in a new book for you asset and liability accounts should create the value of the total equity from your previous set of books in equity so your total equity should be correct and it will be the sum of all the transactions to the Equity:Opening Balances account at this point.
You want to have the appropriate balances in the equity sub accounts corresponding to the closing balances for those accounts in your previous set of books. As the total of Equity should already match, you can only achieve this by transferring the amount of the closing balance in the previous book for a specific Equity sub account to that account from the Equity:Opening Balances account in the new book. For example if when you closed your previous set of books the Equity:Retained Earnings balance was a positive or credit balance of $1000 you would have to create a transaction in your new books as follows Equity:Opening Balances Dr 1000 Equity:Retained Earnings Cr 1000 to effect this transfer. (If the equity account had a negative or debit balance, you would exchange the debits and credits). This will ensure you will not double count your equity. I think from memory the opening balances tool in the new book setup will not allow you to enter these transactions between equity sub accounts and the Equity: Opening Balances account. I am not sure of this though as I haven't tested it. If it doesn't, then you will have to create the transactions as above manually either in the Equity:Opening Balances register or in the register for the equity account you for which you wish to set the initial balance. 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.
