2009-05-24 GnuCash IRC logs
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12:06:10 <warlord> @op
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12:06:15 <warlord> @op chris
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12:06:23 <warlord> @op linas
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13:10:26 <gumpwea> Soooo I'm sure this question must come up often, but a quick google hasn't proven very enlightening... I just got set up in GnuCash and I see that my Equity is a negative figure. The only figures I've input are my main monthly income (salary) and expense (rent). Since salary > rent and equity = assets - liabilities (per my primitive understanding) shouldn't my equity be positive?
13:11:10 <jsled> the equity account is just equity adjustments. Your real equity as per the equation is computed by running a report.
13:12:56 <jsled> Though … if you've really only added income and expenses, the Equity account should be '0'.
13:13:03 <jsled> What opening balances did you enter?
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