![]() ![]() The Equity account of type "Equity" in the chart of accounts. As per the accounting equation Equity = Assets − Liabilities, the Equity item on the balance sheet is just equal to the value of the Assets account, minus the value of the Liabilities account.* There are two "Equity" items you may be thinking of: So I think you want to add a transaction at end of year, which zeros out income and expenses, and adds their complement to equity.Īs for how to do this in GnuCash, a search for "gnucash close books" gives me results such as, To take total incomeĪnd total expenses and use these to zero out the income and expensesĪccounts and add the total of these to the equity account. Ledger file I want to do a standard book closing. I'm not sure how closing out is done in GnuCash, but compare this answer for ledger-cli, which presumably inherits the account structure from GnuCash. ![]() This suggests it is formal enough to interpret GnuCash's equity as the beginning of year equity.
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |