On 4/12/2021 1:37 AM, Rogier F. van Vlissingen wrote:
I am having to setup the books for a corporation, starting 2020 in GnuCash.
I have used it years ago, but now I am having a challenge.
Specifically, this is about the opening balances on 1/1/20, carried over
from the final books as of 12/31/19.
There is an opening balance equity, but it is computed, and I need to carry
over the existing amount.
Same thing, for Retained Earnings, it is not letting me enter an opening
balance.
Further, I notice that I cannot control the date of my opening balances on
the accounts I set up at the outset. Could I have prevented that, or do I
just need to edit them manually?
There are no limitations on what you can do or not do (limitations of
the "opening balance" tool of gnucash) if you simply do not use this tool.
Just pretend it was the old days of pen and ink on paper when you had to
create the book opening entry manually. Create the CoA with all accounts
zero. Then enter, as the first transaction (or the first two
transactions so each just split on one side -- two sided splits are
hard) the book opening entry. You now have compete control, including
the date for the transaction(s).
I have used gnucash for a long time, set up many sets of books. I have
never used the "opening balance" tool.
Michael D Novack
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