what is this called? the yearly translation to calculate balance and adjust equity

[Derek Atkins]

hi,

Zhang Weiwu <zhangweiwu at realss.com> writes:

> Hello
>
> Sorry for my bad English: every year, a transaction has to be done on
> every income / expense account, to adjust it to 0 and adjust equity
> accordingly. This is also the time when we pay some tax based on the
> balance of income and expense. What is such transaction called in GNU cash?
>
> My dictionary say this is called "carry forward". But I didn't find such
> thing in GNU Cash documents.

It's called "Closing the books".

> I need the right term for this kind of transaction so that to read GNU
> Cash documents on how to do this.
>
> Best regards and thanks in advance.

See Tools -> Close Books

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-derek

-- 
       Derek Atkins, SB '93 MIT EE, SM '95 MIT Media Laboratory
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