Budgets and closing the books.
listen at kapune.de
Tue Aug 2 20:05:56 EDT 2011
my solution is to change all dates of transactions from last day to day
before. After this I can use last day for closing books and first day of
new year doesn't care.
Maybe it is not fully correct for bookkeepers but it worked for me well.
Am 02.08.2011 19:34, schrieb Colin Scott:
> I have been playing with the budget facility, and find that for me it is a bit useless, and I'm not sure how others avoid the problem.
> The situation is thia:
> My financial year end is 30th June. (And I usually continue to receive transactions right up to the deadline!))
> In order to be able to close the books on the old year and continue working for the new year, I need to keep the books closed for 24 hours, reopening them for new transactions only on 2nd July. This is because I need to be able to keep a clear day on which the *only* transactions are the equity transfer txns, such as those produced by the "close book" function.
> If I do not do this, then the equity transactions get mixed in with other transactions in my reporting and mess up the figures. However, working this way makes something of nonsense of the budgets, because the budgetary period is subdivided into calendar months - ie, they start on 1st July etc - thus ensuring that the Equity transfer txns are inextricably mixed up with the income& expenditure that I am so carefully trying to budget!
> Is this something silly I'm doing, or do others have similar problems?
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