Incorporation of P&L into balance sheet

[James Leone]

Ok, we've actually made a lot of progress on the year end dates.  You 
got the right idea.

However,  Gnucash 1.84 will report an out of balance balance sheet, but 
it should be easy to fix.


Right now the balance sheet is missing  Retained Earnings accumulated 
prior to the current reporting period.


On the balance sheet....        Assets - Liabilities = Equity.

And....                                        Equity = (Opening 
Balances +current period profit & loss + retained earnings accumulated 
prior to the current period)

Ergo....algebraicly....

(Assets - Liabilities) - Equity = 0

(Assets - Liabilities) - (Opening Balances +profit & loss + retained 
earnings) = 0

(Assets - Liabilities) - (Opening Balances +profit & loss ) = Retained 
Earnings

Set your math this way, and add a line to show retained earnings, and 
_Guess What! ---> GnuCASH will support _Accounting periods!!!!!_   :-)  

* YOU DID IT! * :-)


To avoid confusion on the balance sheet, you should label the balance 
sheet dates as "reporting period."

Note that I really like the flexibility of GNU cash here with regard to 
reporting periods.

Gnucash will actually be _more_ flexible then Quickbooks!!!  :-)


On a separate issue.....

If you run a profit and loss and click on a description in the profit 
and loss, you will see a list of all transactions from the beginning of 
time.

It would be more useful if it only showed the transactions that make up 
the total on the profit and loss.  

After clicking on report, it would be useful to also be able to change 
the date range in the options tab.  This feature would not be used 
often, but would be the little extra that turned the ordinary into the 
extraordinary here.



Good job guys!


James Leone, CPA