Carrying over commodity accounts to a new book

[Derek Atkins]

I'd choose option #1.

-derek

Neil Carlson <nnc at newmexico.com> writes:

> I'm "closing out" a set of books and starting a new one, and I'm
> a bit confused on how to handle stock/mutual fund accounts;
> I could use some informed advice.  For $-valued accounts I'd just set
> the opening balance (from equity) to be whatever the balance was at
> the end of the period I'm closing out.  But these commodity accounts
> aren't $-valued.  I can think of several possibilities:
>
> 1) Retain _all_ stock sale/purchase transactions but alter them to
> refer to the equity account. (This way I maintain a single history
> of stock transactions.)
>
> 2) Determine my basis ($-in - $-out) and create an opening balance
> for the appropriate # of shares for that total $ amount, letting the
> price per share be determined accordingly; or
>
> 3) something else.
>
> What's a reasonable thing to do?  I'm worried that a bad choice
> has nasty consequences down the road that can't be undone easily.
>
> Sorry -- I'm sure this question has been discussed before, but I
> can't find it in the archives.
>
> Cheers,
>   Neil
> -- 
> Neil Carlson <nnc at newmexico.com>
>
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-- 
       Derek Atkins, SB '93 MIT EE, SM '95 MIT Media Laboratory
       Member, MIT Student Information Processing Board  (SIPB)
       URL: http://web.mit.edu/warlord/    PP-ASEL-IA     N1NWH
       warlord at MIT.EDU                        PGP key available