On Sun, Nov 10, 2024 at 04:30:19PM +0000, Murugan Mariappan wrote: > > > > 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? > > > > All opening balances should be mapped to equity account > > Same way you can create new loans for building and map the entry to > equity > OK, that's fine, so I have an equity account with the amount owed from the current account to the building fund. That amount transfers to an account in Liabilities. However I'm stuck on how I add further amounts owing to the building fund during the year, where do they transfer from into the liability account?
-- Chris Green _______________________________________________ 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.
