End of year - P&L reports include the closing transaction so everything is NIL

[David Ryan]

Err, nope, I wasn't going to do any of what you suggest.  I didn't get that specific memo.

I keep backups anyway.

I reckoned closing the year and sticking with the accounts I had was quite a sensible (some might say logical) thing to do.

Or I could have taken multiple copies of before and after sets of accounts for each year.  It just didn't strike me as something that needed to be done.

I'm duly educated now.

David

Sent from my iPod

On 18 Feb 2013, at 22:59, Mike or Penny Novack <stepbystepfarm at mtdata.com> wrote:

> David Ryan wrote:
> 
>> Thanks David.  I did search for answers and got stuff from many years back but didn't see much current or definitive.  The issue as you pointed out is that anything I found is unofficial & inconclusive.
>> 
>> It seems strange that a pretty standard function like rolling over at year end isn't fully supported.  I know the mega transactions are posted and the accounts are cleared, but I would have thought it was pretty standard to be able to run prior years P&L reports without having to manually bodge the report. 
>> 
> Actually, you DON'T have to "bodge the report" in order to (later) rerun pre close reports. All you need do is remember to have saved a copy of the books to a name like "precloseyyyy" (yyyy of course being the identifying year).
> 
> What I usually do for my orgs is save that (and burn it to be able to send safely off site) and then rename the current books for the next year and do the close transactions and then run the post close reports. Burn a copy of that too (actually, both copies and all the reports get burned to the the backup medium -- one kept here in the fire safe and one sent off into other hands).
> 
> I mean you WERE going to do things like make a permanent copy of the year end data anyway, right?
> 
> Michael