Thank you Michael...
david -----Original Message----- From: Michael or Penny Novack <[email protected]> Sent: 10 January 2023 23:36 To: [email protected]; [email protected] Subject: Re: [GNC] ASSETS On 1/10/2023 11:24 AM, [email protected] wrote: > Thank you Michael for your reply .... it is a GNU question... We are a small > club and a couple of assets were missed in the "brought forward balance" when > starting with this App a couple of years ago, so they are listed in the > balance sheet. We haven't depreciated them as this is noted in our EoY. It > acts as a list of equipment at he same time. > > When I put them in the Equipment A/c it does a CR and DR at the same time > which I don't want. A single entry to increase the assets without having to > buy them. > > I need the GNU App to add a couple of items that are of value to be > represented at EoY. David, it is an accounting question, not a gnucash question << you would have EXACTLY the same question were you still in the old days when I learned pen and ink on accounting ruled paper >> You are (actually) asking "how do I add assets that were forgotten when the books were created?" Correct, you are not (now) buying them. You are making what is misleadingly called a "journal entry". An entry affecting equity. They were in your original balance sheet (pre-gnucash) but were not entered THEN with a starting balance. So you do it now. You create an asset account for these under "fixed assets" (create if you do not have). You can create this account with a zero balance. You presumably have an account "starting balance" under equity (if you used the wizard; entered accounts with starting balances when you created your gnucash books. But if you like, you can create another child of equity with a name like "corrections" << it is NOT unusual to have to deal with odd situations* >> You now enter a transaction debiting "fixed assets" for these and crediting "corrections" with a description explaining the transaction. Michael D Novack * To give an example, an uncorrectable bank error. One of my organizations paid an expense for an amount, let's say $100.30 The recipient deposited the check in his bank (where correctly credited $100.30). These days, the paper checks no longer flow back, just an electronic transaction bank to bank to bank. Somehow, it arrived at our bank as $100.00 so that is what was taken from the organization's account. What to do about that $0.30 OOB? Communication with the banks at both ends determined that the error was not correctable as neither of these banks made the error and the banks in the middle not known << I imagine had to been 30 million rather than 30 cents they would have done what was necessary to find out where >> What to do? Well COULD have treated the error as "income". But a more sensible solution was a transaction between "bank account" and equity. -- This email has been checked for viruses by AVG antivirus software. www.avg.com _______________________________________________ gnucash-user mailing list [email protected] To update your subscription preferences or to unsubscribe: https://lists.gnucash.org/mailman/listinfo/gnucash-user ----- Please remember to CC this list on all your replies. You can do this by using Reply-To-List or Reply-All.
