On 1/15/21 11:53 PM, Peter S. Shenkin wrote:
Hi
I've recently volunteered to take over as treasurer of a non-profit. The
previous treasurer was keeping his accounts with a different (tty-based)
system and I wanted to try Gnucash instead.
1. After having set up my accounts, I looked at the documentation and saw
that Opening Balances are supposed to be entered when accounts are first
created. Is there a workaround, or do I have to go through the whole
account setup process again? And what do you do if you make a mistake! (No
transactions have been made so far.)
There is nothing special about an Opening Balances entry. It is simply a
transaction balanced between whatever account is in question and
"Equity:Opening Balances", and can be entered at any time after the
initial setup, if not done during setup.
2. I wanted to keep Equity under Liabilities (only because the previous
treasurer was doing this), but after I put it there (with the Opening
Balances subaccount beneath it), GnuCash created a top-level Opening
Balances account. When I delete it, it comes back. Is there a way I can use
the schema with Equity under Liabilities?
I am not certain, but that is certainly not standard accounting
behavior/practice as I understand it.
The 'basic' accounting equation is: Assets = Liability + Equity
Therefore, Equity is not a sub-account of Liability, but its own
'top-level' account. It should not be (maybe depending on legal
jurisdiction) listed under Liability.
3. Is there a way to set the top-level display order of accounts other than
by using the "optional" account numbering scheme and ordering by the
numbers?
Not sure what you are trying to accomplish. Can you be more specific?
Regards,
Adrien
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