All opening balances should be mapped to equity account Same way you can create new loans for building and map the entry to equity
Saludos Cordiales Murugan ________________________________ From: gnucash-user <gnucash-user-bounces+m.muruganandam=hotmail....@gnucash.org> on behalf of Chris Green <c...@isbd.net> Sent: 10 November 2024 10:44 To: gnucash-user@gnucash.org <gnucash-user@gnucash.org> Subject: Re: [GNC] Where do 'opening liabilities' go? On Sun, Nov 10, 2024 at 12:31:26PM +0000, Chris Green wrote: > When opening a new set of accounts where does one put a liability that > exists when the accounts are started? > > I guess they are a sub-account of Liabilities but I'm not quite clear > where they transfer from/to and whether they should be +ve or -ve. > Going on from this where do liabilities accrued during the year go? This is for a church where money goes in and out of the bank account but some is destined for the 'building fund' which is kept in a separate (building society, interest bearing) account. So, at the start of the year some money is owing to the building fund so it's an 'opening liability', how is that entered? (That was my first question above) Then, during the year there is income to the bank account which is destined for the building fund. So it is 'income' but also needs to be recorded as a liability as it's owed to the building fund. How do I enter this? -- Chris Green _______________________________________________ gnucash-user mailing list gnucash-user@gnucash.org To update your subscription preferences or to unsubscribe: https://na01.safelinks.protection.outlook.com/?url=https%3A%2F%2Flists.gnucash.org%2Fmailman%2Flistinfo%2Fgnucash-user&data=05%7C02%7C%7C4050aeb10e744582d46308dd018e0e38%7C84df9e7fe9f640afb435aaaaaaaaaaaa%7C1%7C0%7C638668431851379433%7CUnknown%7CTWFpbGZsb3d8eyJFbXB0eU1hcGkiOnRydWUsIlYiOiIwLjAuMDAwMCIsIlAiOiJXaW4zMiIsIkFOIjoiTWFpbCIsIldUIjoyfQ%3D%3D%7C0%7C%7C%7C&sdata=30oPNb5xfjA%2FvtZ2CHhYG8zxVYQ59pXKpc4T94FKceM%3D&reserved=0<https://lists.gnucash.org/mailman/listinfo/gnucash-user> ----- 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 ----- Please remember to CC this list on all your replies. You can do this by using Reply-To-List or Reply-All.
