Entering accounts

Double click or right click on the Godley table block to bring up the Godley Table. The table is divided up into sections representing the different accounting asset classes: Asset, Liability and Equity. Assets represent what you have to hand at any point in time, and should always be the sum of liabilities and equity. Liabilities represent amounts that are owed to other parties, and equity the amount of capital owned. The column A-L-E represents the accounting equation (Assets$-$Liabilities$-$Equity), and a properly formatted Godley table adhering to double entry accounting conventions will have this column zero for all rows.

When a Godley Table is first loaded, each accounting class has room for one account (also known as a stock) to be defined. To create an additional accounts, click on the `+' button above the first account. One click then adds another column in which an additional account can be defined. Note that the table will delete excess blank accounts, so you should name them as you go. You can chancge the asset class of an account by moving it into the appropriate sector using the $\leftarrow$ and $\rightarrow$ buttons, or by clicking and dragging the column variable name (the first row of the column).

A column can be deleted by clicking on the `-' button above the column.

To define bank accounts in the system you enter a name into the row labeled “Flows $\downarrow$ / Stock Variables $\rightarrow$”. For example, if you were going to define a banking sector that operated simply as an intermediary between “Patient” people and “Impatient” people--as in the Neoclassical “Loanable Funds” model-you might define the following accounts:

As you enter the accounts, they appear at the bottom of the Bank block on the canvas: