Re: Cannot edit opening balance
My suggestion is to never use the opening balance in an accounting system. Instead, I create a series of General Journal entries, each with about 5-6 transaction pairs, to cover all of the asset, liability and equity accounts. Works well. I have learned over the decades that the programmer does not want the user to edit the beginning balance once it is entered. John On 12/10/2017 02:01 PM, Carmelo Pagán wrote: Hello All, I’ve been trying to reconcile my Checking account, but I’m running into a problem. The reconcile window displays a negative amount as the opening balance. I didn’t enter an opening balance when creating the account. After obtaining my bank’s statement and gathering the open balance as stated. I went to enter an opening balance in the” Equity:Opening Balances” account and it accepted the entry just fine. I then checked the opening balance in my checking account and it displayed the opening balance as I entered in the equity account. When I go to reconcile the Checking account, the reconcile window displays my opening balance as a different amount than the one I entered, and there is no option (that I can find, and yes I did RTFM)to alter the opening Balance. Why doesn’t a user have the option to correct an opening balance in the reconcile window? This issues messes up every reconcile operation that follows. I hope you (the community) can help OS: Windows10 GC version: 2.6.18 Build: git rev 3a9fbb8+ on 2017-10-08 Sincerely, Carmelo Pagan ___ gnucash-user mailing list gnucash-user@gnucash.org 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. ___ gnucash-user mailing list gnucash-user@gnucash.org 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.
RE: Cannot edit opening balance
I tried the suggestion to no avail. So if I understand this correctly, there no remedy to recover from user error in the Reconcile function Hm Machine restricts user. Something out of whack with that IMHO. Humans are imperfect and will make mistakes. Shouldn't the software be robust enough to handle something like this? -Original Message- From: gnucash-user [mailto:gnucash-user-bounces+c.pagan=sbcglobal@gnucash.org] On Behalf Of Carmelo Pagan Sent: Monday, December 11, 2017 12:43 AM To: John Ralls Cc: gnucash-user@gnucash.org Subject: Re: Cannot edit opening balance Thank you Mr. Ralls. I will give it a try Sincerely , Carmelo Pagán > On Dec 10, 2017, at 6:02 PM, John Ralls wrote: > > > >> On Dec 10, 2017, at 2:01 PM, Carmelo Pagán wrote: >> >> Hello All, >> >> >> >> I’ve been trying to reconcile my Checking account, but I’m running >> into a problem. The reconcile window displays a negative amount as >> the opening balance. I didn’t enter an opening balance when creating >> the account. After obtaining my bank’s statement and gathering the >> open balance as stated. I went to enter an opening balance in the” >> Equity:Opening Balances” account and it accepted the entry just fine. >> I then checked the opening balance in my checking account and it >> displayed the opening balance as I entered in the equity account. >> When I go to reconcile the Checking account, the reconcile window >> displays my opening balance as a different amount than the one I >> entered, and there is no option (that I can find, and yes I did RTFM)to >> alter the opening Balance. >> >> >> >> Why doesn’t a user have the option to correct an opening balance in >> the reconcile window? This issues messes up every reconcile operation >> that follows. I hope you (the community) can help > > Could you clarify what you mean? The Reconcile Window (in English, anyway) > doesn't use the term "Opening Balance". It has "Starting Balance", "Ending > Balance", and "Reconciled Balance". The first is the balance of reconciled > transactions (including the account's opening balance *if that has been > reconciled*) at the beginning of the reconcile session, the second is the > balance that you entered in the little dialog box at the beginning of the > process; you should have entered the ending balance from your bank statement > in there, and the third starts off the same as starting balance and adjusts > as you mark new transactions reconciled in the reconcile window. When it > matches the ending balance the green Finished button lights up and you're > done. > > The starting balance can't be edited because it's calculated from what you've > already reconciled in the account. > > If this is your very first time reconciling this account the starting balance > should be 0 as there shouldn't be any reconciled transactions yet. If it's a > negative number that suggests that you might have reconciled some > transactions before creating the opening balance transaction; since it's not > reconciled yet it's not included in the starting balance. If that's the only > problem and you reconcile it--and only it--in the reconcile window the > reconciled balance should match the starting balance on your statement. > > Regards, > John Ralls > ___ gnucash-user mailing list gnucash-user@gnucash.org 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. ___ gnucash-user mailing list gnucash-user@gnucash.org 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.
Re: Cannot edit opening balance
Thank you Mr. Ralls. I will give it a try Sincerely , Carmelo Pagán > On Dec 10, 2017, at 6:02 PM, John Ralls wrote: > > > >> On Dec 10, 2017, at 2:01 PM, Carmelo Pagán wrote: >> >> Hello All, >> >> >> >> I’ve been trying to reconcile my Checking account, but I’m running into a >> problem. The reconcile window displays a negative amount as the opening >> balance. I didn’t enter an opening balance when creating the account. After >> obtaining my bank’s statement and gathering the open balance as stated. I >> went to enter an opening balance in the” Equity:Opening Balances” account >> and it accepted the entry just fine. I then checked the opening balance in >> my checking account and it displayed the opening balance as I entered in the >> equity account. When I go to reconcile the Checking account, the reconcile >> window displays my opening balance as a different amount than the one I >> entered, and there is no option (that I can find, and yes I did RTFM)to >> alter the opening Balance. >> >> >> >> Why doesn’t a user have the option to correct an opening balance in the >> reconcile window? This issues messes up every reconcile operation that >> follows. I hope you (the community) can help > > Could you clarify what you mean? The Reconcile Window (in English, anyway) > doesn't use the term "Opening Balance". It has "Starting Balance", "Ending > Balance", and "Reconciled Balance". The first is the balance of reconciled > transactions (including the account's opening balance *if that has been > reconciled*) at the beginning of the reconcile session, the second is the > balance that you entered in the little dialog box at the beginning of the > process; you should have entered the ending balance from your bank statement > in there, and the third starts off the same as starting balance and adjusts > as you mark new transactions reconciled in the reconcile window. When it > matches the ending balance the green Finished button lights up and you're > done. > > The starting balance can't be edited because it's calculated from what you've > already reconciled in the account. > > If this is your very first time reconciling this account the starting balance > should be 0 as there shouldn't be any reconciled transactions yet. If it's a > negative number that suggests that you might have reconciled some > transactions before creating the opening balance transaction; since it's not > reconciled yet it's not included in the starting balance. If that's the only > problem and you reconcile it--and only it--in the reconcile window the > reconciled balance should match the starting balance on your statement. > > Regards, > John Ralls > ___ gnucash-user mailing list gnucash-user@gnucash.org 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.
Re: entries
Christine, Following what Michael said, with the register in question, or the main account tree open, open GnuCash preferences. (location depends on operating system; Mac, look under the GnuCash menu; Linux, try either the Tools or Edit menu; Windows, likely the Edit menu) Go to the Accounts tab in the preferences pop-up. Play with the setting for “Reverse Balanced Accounts” till the display suits your taste. (I have mine set to ‘Credit accounts’) It’s just a matter of what you ‘think’ should normally be negative or not. Use the one that works best for you. You can change it again at any time. Note, I never enter anything as a negative. (doing so just moves it to the other column anyway) I keep straight whether or not in order to ‘increase’ an account balance, I am supposed to debit or credit it. I enter everything as a positive amount. The Dr & Cr columns never show as negatives for me, only the balances do where appropriate. (which in this case is only those accounts without a ‘normal’ balance.) Regards, Adrien > On Dec 10, 2017, at 6:33 PM, Christine via gnucash-user > wrote: > > Whenever I have a DR and a CR the summary shows that although it balances > all the amounts are showing as negative. Does anyone know what I have done > wrong here as I cant work it out. > > Christine > > > > --- > This email has been checked for viruses by Avast antivirus software. > https://www.avast.com/antivirus > ___ > gnucash-user mailing list > gnucash-user@gnucash.org > 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. ___ gnucash-user mailing list gnucash-user@gnucash.org 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.
Re: Invoice & Bill Posting Date Issues Across Multiple Periods
Thanks Dave, I was already operating this way per the insurance issue. The only difference that I can’t figure out is how to handle pre-billing. (you’ve well described being billed AFTER making that 6 month pre-payment) I’ve already got the pre-paying and expensing part straight. My issue isn’t the idea of a pre-paid asset, my issue is that it is increasing when I post the bill, not when I pay it. I understand the difference between recording events vs. actual money exchanges but this is a question of ‘when is the event?’ 1. When the insurer generates the bill? 2. The date I arbitrarily ‘post’ the bill in GnuCash.(usually the day I enter it, or the ‘effective date’ of service.) 3. The due date of the bill and thus effective date of the beginning of the policy? 4. The date I actually pay the bill and decrease my cash asset? The problem is that 1&2 are happening in November and May of each year, while 3&4 are usually happening in December & June respectively. Thus, balance sheets for November and May are overstated in the pre-paid asset category. On the invoicing side of the question, I didn’t think of an ‘unbilled-work’ account. Thanks. I’ll use that. As for normal post-billed expenses crossing multiple periods I guess the only option is correcting entries, but that sure seems like a limitation of paper that computers should be able to handle more easily. The data is already being entered. It just isn’t being used by the software. I’ll file an enhancement request. Regards, Adrien > On Dec 10, 2017, at 1:49 AM, DaveC49 wrote: > > Hi Adrien, > Add ressing this point: > "Pre-paid expenses are a special case, but I should think it possible to > address it with the business features somehow. I’ve thought of using special > clearing accounts but I can’t seem to figure where they might go. Posting a > bill for a pre-paid expense (but not yet actually paying it) produces a > liability balanced by what exactly? You don’t yet have a new asset because > you haven’t paid the bill yet. You don’t have an additional liability. You > haven’t realized any income or expense and your equity position hasn’t > changed. What should balance Liabilities:AP for an as yet un-paid pre-paid > expense? " > > I think this goes to the differences between accrual accounting and cash > accounting as a separate issue from sales/ purchases made on credit which is > the real purpose of the A/R and A/P accounts. They are not specific to > accrual accounting but may apply for both. > > If for example you purchase insurance in advance to cover a specific period > with a specified start date and end date for the cover but you are to be > invoiced at a later date by the insurer, then you actually purchase the > insurance at the time you enter into the agreement to buy the insurance. > Under accrual accounting you would record the purchase at that date. > > At this point I would debit an Asset:Prepaid Insurance for the agreed amount > and credit a Liability:PrepaidInsurance for the agreed amount to record that > purchase in your accounts. > > When you enter the period which the insurance provides cover, you would then > expense the insurance. Depending on the nature of the business you might do > this monthly, for example. Each monthly transaction would be a credit of the > appropriate fraction of the agreed amount to the Asset:PrepaidInsurance > account and a debit to an Expense:Insurance account for each month of the > period of the cover. This satisfies the matching principle by matching the > timing of the expense to the timing of the income earned as a result of > incurring that expense. > > When you receive the invoice for the insurer then an appropriate action > would then be to raise a Bill crediting Liability:A/P for the agreed amount > with a corresponding debit to Liability:PrepaidInsurance for the same amount > as the balancing split of the transaction. > > The final transaction would be when you pay the bill with a credit to An > Asset:Bank account and debit to the Liability:A/P account. > > I haven't tested how Gnucash's business feature, particularly the reporting > handles the above, specifically as yet but will try it out. > > For a Cash Accounting treatment, you would still raise Bill when the insurer > sends you their invoice debit the Liability:A/P and crediting > Expense:Insurance posting it at the date of the invoice. You would then > record the payment as above when the payment is actually made to them. Where > this runs into problems in calculating profit and loss is when the period of > insurance does not match the accounting period (and particularly if premiums > were increasing significantly annually). > > One appropriate treatment for this would be to then capitalise the value of > any unexpired insurance at the end of the accounting period and then expense > it in the next accounting period. A pair of transactions, one transaction > debiting an Asset:UnexpiredInsurance account and
Re: entries
On 12/10/2017 7:33 PM, Christine via gnucash-user wrote: Whenever I have a DR and a CR the summary shows that although it balances all the amounts are showing as negative. Does anyone know what I have done wrong here as I cant work it out. Christine My suspicion is that you are entering transactions in the reverse direction. Accounts of various TYPES have natural (positive) balances on either the debit side or the credit side. For example, the types "asset" and "expense" are positive on the debit side while types "income", "liability", and "equity" are on the credit side. That kind of systematic error would not affect the books being in balance. Michael ___ gnucash-user mailing list gnucash-user@gnucash.org 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.
Re: entries
Whenever I have a DR and a CR the summary shows that although it balances all the amounts are showing as negative. Does anyone know what I have done wrong here as I cant work it out. Christine --- This email has been checked for viruses by Avast antivirus software. https://www.avast.com/antivirus ___ gnucash-user mailing list gnucash-user@gnucash.org 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.
Re: What does "Update and Reconcile" update?
I always save the file just before importing so I can just close without saving after an import if I don't like the result. My experience has been that the U+R function in GnuCash adds something either to the Description or to the Notes line besides changing the date and possibly even the amount by a few cents in some cases, especially if it is matching to the wrong transaction. It may vary depending on what your bank likes to put in to their data. Because I am paranoid about matching to the wrong transaction I always check that, correct the transfer account if it is incorrect and then either use the Add or the Reconcile option. David C On Sun, Dec 10, 2017 at 10:57 AM, Donald Pellegrino < donald.a.pellegr...@gmail.com> wrote: > When importing transactions, the "Generic import transaction matcher" > dialog provides "A," "U+R," and "R" columns. These columns each contain > check-marks but are mutually exclusive in their selection. It is not clear > to me which fields of the transaction will be changed, and in which ways, > when "U+R" (Update and Reconcile) is selected instead of just "R" > (Reconcile). > > For reference, I found an old post discussing the topic at > https://lists.gnucash.org/pipermail/gnucash-user/2011-November/042039.html > . > However, I was unable to find a definitive documentation of the full > process. As with the author of that old post, I am nervous to lose the > Description content that I have entered. > ___ > gnucash-user mailing list > gnucash-user@gnucash.org > 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. > ___ gnucash-user mailing list gnucash-user@gnucash.org 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.
Re: Cannot edit opening balance
> On Dec 10, 2017, at 2:01 PM, Carmelo Pagán wrote: > > Hello All, > > > > I’ve been trying to reconcile my Checking account, but I’m running into a > problem. The reconcile window displays a negative amount as the opening > balance. I didn’t enter an opening balance when creating the account. After > obtaining my bank’s statement and gathering the open balance as stated. I > went to enter an opening balance in the” Equity:Opening Balances” account > and it accepted the entry just fine. I then checked the opening balance in > my checking account and it displayed the opening balance as I entered in the > equity account. When I go to reconcile the Checking account, the reconcile > window displays my opening balance as a different amount than the one I > entered, and there is no option (that I can find, and yes I did RTFM)to > alter the opening Balance. > > > > Why doesn’t a user have the option to correct an opening balance in the > reconcile window? This issues messes up every reconcile operation that > follows. I hope you (the community) can help Could you clarify what you mean? The Reconcile Window (in English, anyway) doesn't use the term "Opening Balance". It has "Starting Balance", "Ending Balance", and "Reconciled Balance". The first is the balance of reconciled transactions (including the account's opening balance *if that has been reconciled*) at the beginning of the reconcile session, the second is the balance that you entered in the little dialog box at the beginning of the process; you should have entered the ending balance from your bank statement in there, and the third starts off the same as starting balance and adjusts as you mark new transactions reconciled in the reconcile window. When it matches the ending balance the green Finished button lights up and you're done. The starting balance can't be edited because it's calculated from what you've already reconciled in the account. If this is your very first time reconciling this account the starting balance should be 0 as there shouldn't be any reconciled transactions yet. If it's a negative number that suggests that you might have reconciled some transactions before creating the opening balance transaction; since it's not reconciled yet it's not included in the starting balance. If that's the only problem and you reconcile it--and only it--in the reconcile window the reconciled balance should match the starting balance on your statement. Regards, John Ralls ___ gnucash-user mailing list gnucash-user@gnucash.org 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.
Cannot edit opening balance
Hello All, Ive been trying to reconcile my Checking account, but Im running into a problem. The reconcile window displays a negative amount as the opening balance. I didnt enter an opening balance when creating the account. After obtaining my banks statement and gathering the open balance as stated. I went to enter an opening balance in the Equity:Opening Balances account and it accepted the entry just fine. I then checked the opening balance in my checking account and it displayed the opening balance as I entered in the equity account. When I go to reconcile the Checking account, the reconcile window displays my opening balance as a different amount than the one I entered, and there is no option (that I can find, and yes I did RTFM)to alter the opening Balance. Why doesnt a user have the option to correct an opening balance in the reconcile window? This issues messes up every reconcile operation that follows. I hope you (the community) can help OS: Windows10 GC version: 2.6.18 Build: git rev 3a9fbb8+ on 2017-10-08 Sincerely, Carmelo Pagan ___ gnucash-user mailing list gnucash-user@gnucash.org 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.
What does "Update and Reconcile" update?
When importing transactions, the "Generic import transaction matcher" dialog provides "A," "U+R," and "R" columns. These columns each contain check-marks but are mutually exclusive in their selection. It is not clear to me which fields of the transaction will be changed, and in which ways, when "U+R" (Update and Reconcile) is selected instead of just "R" (Reconcile). For reference, I found an old post discussing the topic at https://lists.gnucash.org/pipermail/gnucash-user/2011-November/042039.html. However, I was unable to find a definitive documentation of the full process. As with the author of that old post, I am nervous to lose the Description content that I have entered. ___ gnucash-user mailing list gnucash-user@gnucash.org 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.
Re: GL Accounts
Hi Caleb, all outstanding payments and receivables are collected in the A/R and A/P accounts. You distribute your income and expenses in the invoices and bills to the Income and Expense accounts. You should see the A/R and A/P accounts as transitory payment accounts for the business functionality. Do not use them manually. Cheers, Christoph > Am 08.12.2017 um 15:52 schrieb Caleb Walker : > > Thank you Mr. King for your response. My question is not about accounting > principles but more so how do I do that in GC. When I go to “Process > Payment” the only thing available to “Post To” is “Assets:Accounts > Receivable”. I cannot put anything else in there nor can I put multiple > accounts in there. Also in the “Transfer Account” section I can only choose > one account. However, in processing a payment it should normally debit a > cash account but having the freedom to debit or credit any account would be > useful. > > Then I went to create an invoice and in the "Invoice Entries” section I can > only select and Income Account in the “Income Account” column. I tried to > type in an equity account like “Equity:Opening Balances:Caleb Startup > Capital” and the program said that the account did not exist. > > I have followed these same examples in A/P as well to no avail. Is there a > config file I need to edit to allow me to get out of this “jail” where the > program is forcing me to shoe-horn my processes? I also cannot find a way to > do a “split transaction” yet. I am still looking though. > >> On Dec 8, 2017, at 1:11 AM, Maf. King wrote: >> >> Hi Caleb, >> >> welcome to the list. Answers inline... >> >> On Thursday, 7 December 2017 17:56:18 GMT Caleb Walker wrote: >>> Hello All, >>> >>> I am trying to use GNUCash like I use Sage 100 understanding it is not as >>> full featured as Sage but might be ok with another business I am starting. >>> What I would like to do is make payments to something other than AP or >>> receive invoices to something other than AR. Is that possible? >> >> Yes. if a transaction isn't a AP purchase, why would you shoe-horn it into >> AP? EG. you buy something with cash. the transaction is Assets:CashOnHand >> -> >> Expenses:Whatever, which you can record perfectly easily in GC. >> >>> One >>> example, I made a payment to my landlord and part of it was a deposit which >>> I would like to go into an asset account and the other part is rent which >>> would go into an expense account. How do I do that with this software? >> >> You'd need a "split transaction", so £100 from Assets:Bank can be split to >> any >> other number of accounts - eg £30 to assets:landordDeposit, and £20 to >> Sales:tax and £50 to expenses:rent >> >>> Another example, I received cash into the account that I would like to tie >>> into an equity account to show owners startup capital. How do I easily get >>> the money over there? Thank you for your help >> >> Assets:Bank <- Equity:OwnerCapital:CalebWalker would be one way. >> >> I suggest you give an hour or two to the tutorial & concepts guide at some >> point which will cover these questions in more depth. See >> http://gnucash.org/viewdoc.phtml?doc=guide >> >> Good luck with your new venture. >> Maf. >> >> >>> >>> Caleb >>> ___ >>> gnucash-user mailing list >>> gnucash-user@gnucash.org >>> 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. >> >> >> -- >> Maf. King >> PGP Key fingerprint = 8D68 A91F 733B 2C1F 43B7 2B7C E591 E8E1 0DE7 C542 >> >> >> > > ___ > gnucash-user mailing list > gnucash-user@gnucash.org > 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. ___ gnucash-user mailing list gnucash-user@gnucash.org 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.
Re: Invoice & Bill Posting Date Issues Across Multiple Periods
On 12/9/2017 7:38 PM, Adrien Monteleone wrote: Thanks Maf., But it seems the entire invoice posts together on the posting date, not by line-item date. I just double checked several of them that crossed period boundaries. I’m in the U.S., not sure what the specific rules are on invoice time frames, but GAAP would say the invoice/bill date doesn’t matter - what matters is when you actually do the work or incur the expense. Going to put my two cents in (even though I am not doing business accounting) More complicated that that (the dates) and I will give you a concrete example from my own experience as customer. We had a solar system installed and we had a CONTRACT with the installer and this contract specified dates/events that made various portions of the job payable. Things like "upon signing contract" (of course no actual work done), upon delivery of materials (that one at least matches the above), upon completion/up and running but THAT depended on actions outside of the control of the vendor (when building/electrical inspector signed off, when electric utility came out for final hook up and they stall that as much as they can). In other words, of all of the payments, only ONE was related to when the vendor actually do the work. However I agree that the date an invoice is prepared is irrelevant. Should have effective dates for the charges. Michael D Novack ___ gnucash-user mailing list gnucash-user@gnucash.org 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.
