Closing out 2002

[Conrad Canterford]

On Fri, 2002-12-20 at 04:47, Ian Pilcher wrote:
> If possible, however, I would like to to this without messing up my
> Income & Expense reports.  If I do the closing transactions as of
> 12/31/2002, the reports for 2002 will be messed up; if I close out on
> 1/1/2002, the 2002 reports will be messed up.
> Anyone know of a good solution?

My solution is to designate the 1st July (our financial year ends on
30th June) as a non-existent day as far as real data is concerned, and
enter all data for both the 1st and 2nd as occuring on the 2nd (I do use
descriptions to make it clear). I then use the 1st July as my
"end-of-year day" - when I zero all income and expense accounts to the
equity account.
This works almost like normal for most purposes, *BUT* you must remember
to manually set the start date for your reports to the 2nd July (in my
case). Its a little irritating, and eventually this problem will go away
when a real solution is implemented.

Unfortunately, the only good solution for this problem is for someone to
write the code to implement it. If you're feeling like doing some
coding, this would be an interesting project.

Conrad.