Hi list,I’m very new to accounting and gnucash. In setting up a
hypothetical business, I have a question about opening balances:I entered $1000
in the equity opening balances account, transfer to current assets checking. I
also added the savings opening balance, and machinery starting book value, in
the same way.Shouldn’t the open balances equity zero out after appearing in the
“target” accounts correctly? There’s no imbalance, everything looks fine,
except that opening equity account doesn’t decrease. Should it, or is this
normal?Thanks!
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