You are forgetting that Income and Expense are also types of Equity. So
you need to update your equation, and that will fix it for you.
-derek
Sent using my mobile device. Please excuse any typos.
On June 15, 2022 12:27:05 PM Jack Lockard <jelock...@outlook.com> wrote:
I've been using GNUCash for over 10 years now. Looking at the Equity group
today I realized that the Opening Balances account has a balance of over
$200,000. So I am thinking that I am not using the Equity group correctly.
Isn't Equity supposed to be Assets - Liabilities?
What got me started today was trying to figure out how to post an increase
in the value of my house. To do that, I added an Equity:Unrealized Gain
account posting an increase to the House asset and a decrease to the
Unrealized Gain Equity account. Is this how it should be done?
Any help/suggestions would be appreciated. Maybe a link to something to
read that will get me going in the right direction.
Thanks,
Jack Lockard
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