Starting Balance Equity

1

Is it possible to change the name of this account or include it in a Group that I can name.

Thanks

2

No, because it is an automatically activated account that exists only to capture incorrect transactions, as has been explained to you in response to other inquiries. It doesn’t matter what the account is called, because once you have your accounts set up correctly, it will disappear. Based on where you seemed to be in the other thread, your problem is that you do not have your equity structure properly established for your organization.

3

The proverbial penny has dropped.

I had set up all the starting balances with the exception one, which was the remaining starting balance

It has been a long haul for me but I think I am now there and ready to offer my chart of accounts to my accountant.

I will add one more point to my previous thread to close that off as well

Thanks

4

Oops, looks like my just posted comment in your previous thread is now redundant - perhaps it will assist others. Timing, timing.

5

I’m going to post one more comment in the other thread, where @Brucanna’s excellent illustrations are, related to my point about equity structure.