https://beancount.github.io/docs/the_double_entry_counting_method.html#equity
If you're interested, I recommend reading the whole document. Martin wrote a very clear explanation of the fundamentals behind accounting. On Thu, Mar 28, 2024, 2:42 PM Chary Chary <[email protected]> wrote: > Hello! > > I am not an accountant, but as far as I understand, Equity is exactly the > the right account for this. > > Whenever I myself have a question like this it helps me think and google > assuming that I am running an accounting for a small business. > > In this case Equity is everything which owners invest in the company or > draw from it. > > What you are doing when initiating "Opening Balance" is equivalent to > closing old company and transferring all assets as well as liabilities to a > new company, and this has to go through Equity as far as I understand. > > It is definitely not *Income *and *Expenses* > On Thursday, March 28, 2024 at 5:22:06 PM UTC+1 [email protected] wrote: > >> Good morning all! >> >> How do I input the debt I already have when starting to use beancount? >> >> My entry looks like: >> >> ``` >> 2024-03-28 * "BofA:Credit" "Opening Balance" >> Liabilities:BofA:Credit -113.44 USD >> Equity:Opening-Balances 113.44 USD >> ``` >> But I'm thinking that equity is maybe not the right place for this, or >> maybe there's something else that I'm doing wrong! I would love some >> direction! >> >> Thank you! :) >> > -- > You received this message because you are subscribed to the Google Groups > "Beancount" group. > To unsubscribe from this group and stop receiving emails from it, send an > email to [email protected]. > To view this discussion on the web visit > https://groups.google.com/d/msgid/beancount/04b2bd07-b8fd-4392-a613-bb8399d3fe5fn%40googlegroups.com > <https://groups.google.com/d/msgid/beancount/04b2bd07-b8fd-4392-a613-bb8399d3fe5fn%40googlegroups.com?utm_medium=email&utm_source=footer> > . > -- You received this message because you are subscribed to the Google Groups "Beancount" group. To unsubscribe from this group and stop receiving emails from it, send an email to [email protected]. To view this discussion on the web visit https://groups.google.com/d/msgid/beancount/CAOVsoWTV4tAicKi_jWAJUUeoanqdPAHgkMw%2Bt8nN%2BTFP7-WwBg%40mail.gmail.com.
