close books

[Ken Heard]

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Surely if you ran "close books" on the first day of the new fiscal year
rather than the last day of the old one, for comparative reporting
purposes you would have the full figures of the old year complete to the
last day?  On the first day of the new year all the profit and loss
accounts would have zero balances.

Does or will gnucash allow reports for comparative purposes to pull
balances from the same accounts as of different dates, e.g., end of one
month compared with the end of the previous month, with differences
absolute and relative (percentage change for example)?

As for equity accounts, they are carried forward from year to year, as
are asset and liability accounts.  You can find information about the
role and purpose of equity accounts either on the web or in books such
as "Accounting for Dummies".  If the latter you have the edition which
applies to your country or state.

Ken Heard

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