Re: Opening Balance Equity

[Dieter S. <dsi...@sq...>]

You can create one GL posting to enter your beginning balances.

Use your last balance sheet.


Dieter Simader    http://www.sql-ledger.org   (780) 472-8161
DWS Systems Inc.     Accounting Software       Fax: 478-5281
=========== On a clear disk you can seek forever ===========

On Thu, 3 Jan 2002, Richard Lyons wrote:

> On Thursday 03 January 2002  4:54, David Wolf wrote:
> > I'm sure this will be a (somewhat?) silly question.. I need to know how 
> > to enter starting balances into the ledger. I tried making a GL entry 
> > that wasn't balanced to open the accounts at '$x'.. but, of course it's 
> > too smart for that ;)
> > 
> > So.. How do I do it? :)
> 
> You should really have an initial balance sheet that is ... in balance.  I 
> haven't got my sql-ledger up and running yet so I don't know if it will 
> accept a whole stack of opening balances in one GL posting, but if it 
> won't, or if (like me) you are disorganized enough to be working through 
> the opening balances piecemeal, you can start a liability account for 
> opening balances and put all the contras in there.  When the opening 
> balance is balanced, that account will be too.  Alternatively, wait a bit 
> for a difinitive answer from some accountancy professional...
> --
> richard
>  
> 
>