[GNC] End of Year?

[Phyllis Bruce]

Just to clarify further, I'm referring to Adrien's A2b option above of just
entering ending balances for a new year.

On Sat, Jan 13, 2024 at 10:52 AM Phyllis Bruce <pobruce46 at gmail.com> wrote:

> Thanks for the explanation.   I guess it's a matter of personal
> preference.  If I'm starting a new file I want to be able to reconcile to
> my statement when it's received in 2024.  It does not bother me to have
> uncleared items in the archived file.  I could even go so far as to delete
> them from the 2023 archive but that would be overkill imho.
>
> On Sat, Jan 13, 2024 at 10:37 AM Gyle McCollam <gmccollam at live.com> wrote:
>
>> Phyllis,
>> If you enter unreconciled transactions again in 2024 you will have
>> doubled counted them because they will be in 2023 and 2024.  They are
>> already accounted for in the balance.  Since reconciliation is just
>> matching what has cleared with the statement it is OK that the transactions
>> are not in 2024 as long as you know that they were in 2023 and any that
>> have not clear in 2024 are the difference between your statement and
>> account balance per the statement.
>>
>> Thank You,
>>
>> *Gyle McCollam*
>>
>> Gyle McCollam
>>
>> gmccollam at live.com <gmccollam at gyleshomes.com>           email
>> ------------------------------
>> *From:* gnucash-user <gnucash-user-bounces+gylemc=gmail.com at gnucash.org>
>> on behalf of Phyllis Bruce <pobruce46 at gmail.com>
>> *Sent:* Saturday, January 13, 2024 10:56 AM
>> *To:* adrien.monteleone at lusfiber.net <adrien.monteleone at lusfiber.net>
>> *Cc:* gnucash-user at lists.gnucash.org <gnucash-user at lists.gnucash.org>
>> *Subject:* Re: [GNC] End of Year?
>>
>> I did mean checking/savings and credit card accounts.  Thanks
>>
>> Since I use Gnucash for personal rather than business use, I don't
>> "close" the books.  However, if I wanted to archive 2023 and start fresh
>> on
>> Jan 1, 2024, I would enter any unreconciled transactions in those accounts
>> in your A2b example because the beginning balances would include them.
>>
>> On Sat, Jan 13, 2024 at 8:19 AM Adrien Monteleone <
>> adrien.monteleone at lusfiber.net> wrote:
>>
>> > *ALL accounts are 'credit and debit' accounts. But perhaps you mean
>> > Checking & Credit Card accounts? (i.e., those held at a 3rd party
>> > financial institution, since you are referencing 'reconciliation'.)
>> >
>> > Reconciliation is usually done prior to a Trial Balance as part of the
>> > End of Year process and that not infrequently is done up to a month
>> > (sometimes more) after the calendar date of the end of the period. It is
>> > not uncommon to see P&L and Balance Sheet reports published in February
>> > for periods ending December 31.
>> >
>> > Otherwise, correcting entries are employed. This is usually the case
>> > with Accruals that cross period boundaries. You reverse the portion of
>> > an amount that doesn't apply to the period being closed, and add it back
>> > in the following period. (this also occurs for interim periods such as
>> > months or quarters)
>> >
>> > Exactly what you do, depends on the requirements of your local
>> > jurisdiction.
>> >
>> >
>> > Regards,
>> > Adrien
>> >
>> > On 1/13/24 8:03 AM, Phyllis Bruce wrote:
>> > > Hmmmm, would you not also need to re-enter any unreconciled
>> transactions
>> > in
>> > > your credit and debit accounts?
>> >
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>