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<DIV dir=ltr align=left><FONT face=Arial color=#0000ff size=2><SPAN
class=179443118-23092005>It is not too difficult.</SPAN></FONT></DIV>
<DIV dir=ltr align=left><FONT face=Arial color=#0000ff size=2><SPAN
class=179443118-23092005>OK.</SPAN></FONT></DIV>
<DIV dir=ltr align=left><FONT face=Arial color=#0000ff size=2><SPAN
class=179443118-23092005>If you get monies - donations or fund raising it goes
into a bank account...so you need to create an account in the general ledger
chart of accounts that says something like Checking A/C - Peoples Bank and
another that is Savings A/C - Peoples Bank.</SPAN></FONT></DIV>
<DIV dir=ltr align=left><FONT face=Arial color=#0000ff size=2><SPAN
class=179443118-23092005></SPAN></FONT> </DIV>
<DIV dir=ltr align=left><FONT face=Arial color=#0000ff size=2><SPAN
class=179443118-23092005>So when you Credit Income you must Debit Cash in Bank,
either savings or checking.</SPAN></FONT></DIV>
<DIV dir=ltr align=left><FONT face=Arial color=#0000ff size=2><SPAN
class=179443118-23092005></SPAN></FONT> </DIV>
<DIV dir=ltr align=left><FONT face=Arial color=#0000ff size=2><SPAN
class=179443118-23092005>On the other side of the coin when you spend monies for
postage, donuts, gas etc, you will DEBIT the expense account and CREDIT the Cash
in Bank account.</SPAN></FONT></DIV>
<DIV dir=ltr align=left><FONT face=Arial color=#0000ff size=2><SPAN
class=179443118-23092005></SPAN></FONT> </DIV>
<DIV dir=ltr align=left><FONT face=Arial color=#0000ff size=2><SPAN
class=179443118-23092005>Let me know if you need additional
help.</SPAN></FONT></DIV>
<DIV dir=ltr align=left><FONT face=Arial color=#0000ff size=2><SPAN
class=179443118-23092005></SPAN></FONT> </DIV>
<DIV dir=ltr align=left><FONT face=Arial color=#0000ff size=2><SPAN
class=179443118-23092005>Cheers</SPAN></FONT></DIV><BR>
<DIV class=OutlookMessageHeader lang=en-us dir=ltr align=left>
<HR tabIndex=-1>
<FONT face=Tahoma size=2><B>From:</B> fedora-list-bounces@redhat.com
[mailto:fedora-list-bounces@redhat.com] <B>On Behalf Of </B>Marc
M<BR><B>Sent:</B> Friday, September 23, 2005 2:30 PM<BR><B>To:</B> For users of
Fedora Core releases<BR><B>Subject:</B> Re: OT: GnuCash<BR></FONT><BR></DIV>
<DIV></DIV><BR>I am struggling with the same thing myself. From what I can
tell, the double entry thing means that for EACH transaction you have to make
sure you do two things. Like if you take money out of an ATM machine that
is <BR><BR>1 reducing ATM savings or whatever it came from<BR>2. crediting
'loose cash' or whatever you wanna call it.<BR><BR>I think I am going to have to
really work to do this right, but it makes a lot of sense in the bigger picture,
as long as it isn't too hard to work with. It forces you to think like an
accountant about it in terms of where to put money and where it came from (ie
what to reduce or increase). My guess is that you need to add something to
whatever balances out your Donations entry. IOW the 100 bucks didn't come
out of the sky or grow on trees, you have to account not only for balances but
where the money comes from. Sounds to me like you need something
along the lines of a 'Donations Source' account. Maybe you can create that
account, use it for balancing purposes only, and basically ignore it
otherwise. <BR><BR><BR>Cheers<BR>Marc<BR><BR><BR><BR>
<DIV><SPAN class=gmail_quote>On 9/23/05, <B class=gmail_sendername>Robert
Bell</B> <<A
href="mailto:robert@thebellfamily.com">robert@thebellfamily.com</A>>
wrote:</SPAN>
<BLOCKQUOTE class=gmail_quote
style="PADDING-LEFT: 1ex; MARGIN: 0pt 0pt 0pt 0.8ex; BORDER-LEFT: rgb(204,204,204) 1px solid">OK,
I just don't get gnucash. I want to track a simple cash account for<BR>my
group of Cub Scouts. I am only used to Quicken so I haven't done any<BR>double
entry accounting before. My understanding is that I need an<BR>income and and
an expense account? I really have two sources of income <BR>donations and fund
raising. I created 3 accounts Donations, Fund raising<BR>and Expenses. Is this
the correct way? So I added an entry to Donations,<BR>$100 for example and it
tells me the transaction is not balanced. What <BR>does that mean, there has
to be someplace I can record income without<BR>requiring that it come from
another account right? I'm sure I'm missing<BR>some basic idea
here.<BR><BR>Thanks<BR><BR>robert<BR><BR>--<BR>fedora-list mailing list <BR><A
href="mailto:fedora-list@redhat.com">fedora-list@redhat.com</A><BR>To
unsubscribe: <A
href="https://www.redhat.com/mailman/listinfo/fedora-list">https://www.redhat.com/mailman/listinfo/fedora-list</A><BR></BLOCKQUOTE></DIV><BR></BODY></HTML>