New User

From jGnash

In order to use jGnash for the first time, you must go through the process of creating a new file. Creating a new file is as simple as selecting File|New from the menu bar.

Creating a new file establishes a default currency and creates an Income Account, Expense Account, and Bank Account.

After creating the default accounts, you can build your account tree from there. Normal practice would be to place all expense and income accounts under the respective Income and Expense base accounts, and place any assets under the Bank Account. The names of the default accounts can be changed, but they cannot be deleted.

For an in-depth double-entry accounting discussion, read the article at Wikipedia

Example of a very simple account tree.

Key
Top Accounts

sub accounts

sub-sub accounts

starred (*) accounts are placeholders (no transactions are actually logged to them -- they're there for organizational clarity).

Bank Accounts*

First Union*

Checking

Savings

National Credit Union*

Savings

Expense Accounts*

Bank Charges

Entertainment

Gifts Given

Groceries

Loan Interest(or Finance Charges)

Phone

Rent

Taxes Paid

Travel*

Lodging

Gas/Auto Rental

Dining

Other Travel Expenses

Utilities

Income Accounts*

Pay Check

Consulting Gigs (pre-tax)

Gifts Received

Misc. Other Income

Liabilities*

Car Loan

Credit Cards*

First Union Gold Card

Central Credit Platinum

Discussion You could also create an Assets parent account, but in this case the person is renting, and not tracking the value of the car. Thus the only "asset" being tracked is the cash in the bank accounts.

To pay the phone bill from checking:

Click on the checking account and click the register tab (or double-click the checking account to open a separate window). Click the Credit tab in the entry space (at the bottom of the window). Enter the name of the phone company in the Payee field. Enter the check number or some code you want to specify for electronic transfers (such as EFT). In the Accounts field choose Phone from the drop-down menu. Enter the date on the check, or the day the electronic transaction was made. Enter a memo if you wish. Enter the amount paid. Click Enter.

The Checking register now has a payment to the phone account, with the amount deducted out. If you click on the Phone account under Expenses, you will see money coming into this account from the checking account. You can also follow transactions to their respective expense accounts by highlighting the transaction in the register and clicking Jump.