A simple End-of-Period question

[James Leone]

davidxgreen at netscape.net wrote:

>I have a very simple question regarding the closing of accounts at the end of the accounting period.
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>I have been running GnuCash for a couple of months in a trial manner and want to tranisition to full use for the next financial year (July 03 - Jun 04).
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>How do I close off the accounts and begin afresh in the new accounting year? That is, roll-over the balances but clear out the transactions?
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Just like with quickbooks you don't need to close the year, you just set 
your report perameters to match the time period that you want to report on.

There was a recent patch to the balance sheet and I think it will be a 
part of the next version of Gnucash. It will let you set a time in which 
to report p&l on the balance sheet as a component of retained earnings. 
You can do monthly, quarterly, even daily reports.

Gnucash's data files do not take a lot of space, so it seems that 
closing the year and separating transactions is more of a problem then 
what it is worth.

James Leone

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