account transition to new year

[Derek Atkins]

It records a loss because you don't have any income this year.

As for separate files; you're welcome to do that, but gnucash does
not have a mechanism to do it for you.

-derek

Enrique Barahona Ramos <kikokun at telus.net> writes:

> Hi, sorry if this has been adressed before in the list, I'm new to 
> gnucash and personal accounting.
>
> My question is, I've been entering chequing account transactions for 
> 2004, but the moment I enter an expense transaction in January 2005 
> gnucash displays a loss equal to the amount for the 
> transaction/transactions, even if the checking account balance is 
> positive. Income transactions don't appear as profit though.
> I'm guessing it has to do with the financial year, so my question is how 
> does one handle the transition from one year to another.
> I read in the manual one is supposed to transfer the income-expense 
> balance to an equity account, but how is this done?
> If i transfer the assets balance to my equity account then I get twice 
> as much equity, which can't be right.
>
> Or should one keep one file for each year, and just enter the balance as 
> the equity in the new year account?
>
> Thanks,
>
> Kiko
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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