I'm running a set of accounts for a Residents' Association. No VAT, no liabilities. Just income and expendityre.
I'm interested in finding out where , in the Equity Account, I get a figure for "Club Equity" and a negative figure for "current earnings". These two make up the present position of the Equity Account.
I'm trying to puzzle out how it came to these figures but I just cannot follow the trail. Any suggestions, please?
Hi Roderick,
To see how the Club Equity account is calculated, go to the Accounts list, right-click on the account row and select 'Account Activity'.
For the Current Earnings this is simply the difference between total Income and Expenses. Similar the equity account, you can view how the income and expenses have been calculated by right-clicking on the account row and selecting 'Account Activity'.
Regards
