Andrea The Accounting Equation which will be satisfied if your accounts are recorded correctly in double entry accounting is
Assets = Liabilities + Equity + (Income - Expenses). In your case where you have no liabilities it will become Assets = Equity + (Income -Expenses) It is generally written in this form because the Expense and Income accounts are actually temporary equity accounts for the current year. If you rearrange the above you should have Assets - Income + Expenses = Equity (this is your net worth financially whereas you appear to be calculating Assets + Income - Expenses As the (Income - Expense) is already recorded against Assets when you create the transactions, you are including them twice in the total you are calculating. David ----- David Cousens -- Sent from: http://gnucash.1415818.n4.nabble.com/GnuCash-User-f1415819.html _______________________________________________ gnucash-user mailing list [email protected] To update your subscription preferences or to unsubscribe: https://lists.gnucash.org/mailman/listinfo/gnucash-user If you are using Nabble or Gmane, please see https://wiki.gnucash.org/wiki/Mailing_Lists for more information. ----- Please remember to CC this list on all your replies. You can do this by using Reply-To-List or Reply-All.
