year end protocol

[Paul Schwartz]

I don't think you have to do anything. Gnucash will operate properly without any end-of-year procedure. The account balances in income/expense accounts will not set to zero as traditional accounting programs do it, but your reports should still give the right results.

HTH

Paul


--- On Sun, 2/8/09, Ian Smith-Heisters <i at idiosyncra.tc> wrote:

> From: Ian Smith-Heisters <i at idiosyncra.tc>
> Subject: year end protocol
> To: "gnucash-user" <gnucash-user at gnucash.org>
> Date: Sunday, February 8, 2009, 11:20 PM
> Hey folks,
> 
> I'm a little behind the game, both on the calendar, and
> in my
> knowledge ;) What are your takes on best practices wrt the
> end of each
> year? Is it necessary to do anything? Are there any
> considerations
> around taxes? Should I do something with the "Close
> book" feature? I'm
> totally new to accounting and just making it up as I go
> along, so any
> advice will be very helpful.
> 
> Thanks,
> Ian
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