Re: Opening Balances

[Momi456]

>This is what "Equity" accounts are good for.  Make an account of type
>Equity called "Retained Earnings" or some such, and have your opening
>balances be transfers from there to your bank accounts.  

The flip side to the opening balances does go to the equity acct.  Equity is 
also where any net income (income-expenses) goes at the end of each period.  

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