Closing Out 2013

[Derek Atkins]

"David T." <sunfish62 at yahoo.com> writes:

> And further:
> http://wiki.gnucash.org/wiki/FAQ#Q:_Is_there_book-closing_support.3F
>
> Cheers,
> David
>
> On Jan 1, 2014, at 10:08 AM, Michael Hendry <hendry.michael at gmail.com> wrote:
>
>> On 1 Jan 2014, at 15:04, John Donnee <jdonnee at ec.rr.com> wrote:
>> 
>>> I do not see anything in the users guide on how to “Close out the
>>> year”. In my old system, opening the application after the last day
>>> of the year the application would ask you if you want to close out
>>> the year.
>> 
>> Tools->Close Book
>> 
>> Michael

Note that there is not requirement that you Close the Books.  Indeed,
all this does is zeroize your Income and Expense accounts, rolling them
up into Equity.  The reports can do that for you already, so all it
really does is fix up the Chart of Accounts for you to show you
year-to-date totals.

One thing it does NOT do is prevent you from entering transactions in
the past.  If you want to make sure that your existing/previous data
doesn't get changed then you should make a copy of your datafile.gnucash
and write it to a write-only media like a CD-ROM.

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-derek

-- 
       Derek Atkins, SB '93 MIT EE, SM '95 MIT Media Laboratory
       Member, MIT Student Information Processing Board  (SIPB)
       URL: http://web.mit.edu/warlord/    PP-ASEL-IA     N1NWH
       warlord at MIT.EDU                        PGP key available