End of year processing?

[Paul Lussier]

In a message dated: Tue, 08 Jan 2002 08:43:55 CST
Linas Vepstas said:

>On Tue, Jan 08, 2002 at 07:30:35AM +1100, Doug Laidlaw was heard to remark:
>> To me, in Australia, "close the books" means to carry all income and expense
> 
>> balances to a "profit and loss" account for the year in question, then 
>> transfer the balance of that account to an equity account called "capital" or 
>> similar.  This is done at the end of each year, and a new profit and loss 
>> account is created each time.
>
>The new gnucash system does this automatically. It also tracks which new
>account is paired to which old account (so that, in theory, if a closed
>book was changed, the opening balances in the open book could be
>automatically updated.  But changing closed books isn't implemented).

By 'new' do you mean in a forthcoming release and not 1.6.x?
-- 

Seeya,
Paul
----

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