Zeroing out income and expense accounts

[Derek Atkins]

Quoting Steve Drach <Steve.Drach at sun.com>:

>> I add a transaction that negates the sum of all previous transactions.
>
> And how do you match that transaction?  Does it go back to an Equity  
> account?  Like Equity -- year end?

I use Equity:Retained Earnings.

-derek

-- 
       Derek Atkins, SB '93 MIT EE, SM '95 MIT Media Laboratory
       Member, MIT Student Information Processing Board  (SIPB)
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