End of year question

[John R. Sowden]

Not being an account, merely a lowly businessperson, I don't understand why it 
is not possible to:

Complete all end of reporting period (quarter, year, etc.) entries
Run a Trial Balance Report
Set up an Asset or Liability (either) account to hold the transactions 
indicated below, for future audit purposes
Post reversing entries from all of the income and expense accounts
to this holding account, then post the difference to the corporate equity 
account (the one that is added to the retained earnings), or in the case of a 
sole proprietorship, post it to a equity revenue account (the one that will 
offset "owner's draw").

After all, aren't accounting programs just database applications with 
specialized data entry and reports?  I have created a few over the years, 
starting with dBASE II and that's all they were.

-- 
John R. Sowden
AMERICAN SENTRY SYSTEMS, INC.
Residential & Commercial Alarm Service
UL Listed Central Station
Serving the San Francisco Bay Area Since 1967
mail at americansentry.net
www.americansentry.net