sql-ledger-users

Re: [SL] Setting a start balance for bank account in 2.8.7?

[David J <ja...@in...>]

Wot.
No other assets or liabilities needed ?
Nothing owing or owed ?
No comparative balances from previous year ?
Definitely talk to your accountant.

> On Thu, 16 Aug 2007, Rich Shepard wrote:
> 
> >   Sure. Credit the checking/savings account and debit an
> > equity account. Or, ask your accountant how she prefers
> to have the credit side handled.
> 
>    I'm sorry; must not be fully cafinated yet. The bank
> account should be _debited_ to increase the balance, and
> the equity account should be _credited_.
> 
> Mea culpa!
> 
> Rich
>

Re: [SL] Setting a start balance for bank account in 2.8.7?

[Rich S. <rsh...@ap...>]

On Fri, 17 Aug 2007, David J wrote:

> Wot.
> No other assets or liabilities needed ?
> Nothing owing or owed ?
> No comparative balances from previous year ?
> Definitely talk to your accountant.

   IIRC, the original question was how to insert a starting balance into a
bank account using a new financial accounting application. Nothing was asked
about a Chart of Accounts (which the business' accountant should define) or
initial balances in any other accounts.

Rich

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Re: [SL] Setting a start balance for bank account in 2.8.7?

[Dr E. L. <el...@li...>]

This has been discussed here before.

el

on 8/16/07 10:52 PM Rich Shepard said the following:
> On Fri, 17 Aug 2007, David J wrote:
> 
>> Wot.
>> No other assets or liabilities needed ?
>> Nothing owing or owed ?
>> No comparative balances from previous year ?
>> Definitely talk to your accountant.
> 
>    IIRC, the original question was how to insert a starting balance into a
> bank account using a new financial accounting application. Nothing was asked
> about a Chart of Accounts (which the business' accountant should define) or
> initial balances in any other accounts.
> 
> Rich
> 

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