Equity-Opening Balance Never Changes

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Equity-Opening Balance Never Changes

janfl
I have been using gnu cash for a couple of months. What I am noticing is that my equity balance never changes under accounts. Under equity, it says opening balances. I want it to show how much equity I have after everything is balanced. It just stays fixed at opening balance and yes, I know that is my opening balance. I would like the accounts page to reflect my current equity.  I pull the reports to get my cash flow and profit and loss. Would appreciate if someone could advise me.
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Re: Equity-Opening Balance Never Changes

Derek Atkins-3
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RE: Equity-Opening Balance Never Changes

janfl
Thank you Derek for your prompt response and for clarifying it for me!

Date: Sun, 10 Jun 2012 10:56:56 -0700
From: [hidden email]
To: [hidden email]
Subject: Re: Equity-Opening Balance Never Changes

Hi,

On Sun, June 10, 2012 1:41 pm, janfl wrote:

> I have been using gnu cash for a couple of months. What I am noticing is
> that
> my equity balance never changes under accounts. Under equity, it says
> opening balances. I want it to show how much equity I have after
> everything
> is balanced. It just stays fixed at opening balance and yes, I know that
> is
> my opening balance. I would like the accounts page to reflect my current
> equity.  I pull the reports to get my cash flow and profit and loss. Would
> appreciate if someone could advise me.
This is a FAQ.  I should probably add it there.

You are confusing "Equity Accounts" from "Instantaneous Equity"..  The
I.E. includes Income and Expense values, which are not rolled up into your
Equity Accounts.  To compute your Instantaneous Equity you need to run a
Balance Sheet.

Your Equity accounts will always show your equity at a single point in
time.  Generally it's the Opening Balances, but you can roll up your
Income and Expense accounts into an Equity account by "closing the books".

I hope this helps.

> Please remember to CC this list on all your replies.
> You can do this by using Reply-To-List or Reply-All.

-derek

--
       Derek Atkins                 617-623-3745
       [hidden email]             www.ihtfp.com
       Computer and Internet Security Consultant

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Re: Equity-Opening Balance Never Changes

Mike or Penny Novack
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