In Chapter 2 you created a file called gcashdata. In these examples, we will work with that file, so start by opening gcashdata.
Let's set up a simple chart of accounts that you might use on a regular basis. Create the following accounts in your home currency:
Checking (account type Bank, parent account New top level account)
Savings (account type Bank, parent account New top level account)
Credit Card (account type Credit Card, parent account New top level account)
Salary (account type Income, parent account New top level account)
Groceries (account type Expense, parent account New top level account)
Utilities (account type Expense, parent account New top level account)
Electric (account type Expense, parent account New top level account)
Opening Balances (account type Equity, parent account New top level account)
Now edit the Electric account. In the Account Information dialog, change the parent account of Electric to Utilities.
Review your chart of accounts in the main window. Your new chart of accounts should look like this: FIXME: Redo this section(insert chartaccts.png)
This image shows the effect of changing the preferences.
Save your file. We will use these accounts in the next chapter.