Close books trashes Income Statement and Net Income on Balance Sheet

Jeff Kletsky gnucash at
Sun Feb 7 12:39:04 EST 2010

This one has tripped me up as well. In the business world, there often 
is either January 1st which is a non-business day to put the 
transactions on. The "fake day" is also another option.

There are implications past just the ones indicated in an earlier post 
-- most accounts are impacted, as are budgets, if they include 
book-close transactions.

Thinking about this a little, I believe that a future solution may take 
the form of a flag that identifies certain transactions as book-close 
transactions, then let the reports decide how to deal with them. I agree 
that use of a "fake date" doesn't make sense in the current era of 

On 2/7/10 8:31 AM, JT Morée wrote:
>> "calendar" allowed for the special date "year end". In other
>> words, we could insert a date in between two (real) calendar
>> dates that fell after the first but before the second. Think
>> of it as a December 32 or a Jan 0
>> Not an easy problem for GnuCash (no way of knowing what the
>> user's "fiscal year" might be)
>> Michael D Novack, FLMI
> I am not an accountant but I disagree that the best solution is to 
> create a fake date or reserve a real date.
> I realize my post was long but in short I believe the best solution is 
> to have the reports be smarter.  It's not difficult (almost done in 
> fact) and it avoids the fiscal year problem you mention.
> JT

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