Changing to new financial year

[Paul Schwartz]

The way I do it is ....

After creating all of the reports that you need for the year ending, and after creating a backup copy of the year ending file, I transfer the balances from each Income and Expense account to an Equity account that I call Previous Retained Earnings. the resulting file is the one I use to do the next year. I haven't had time to explore the recently added feature in Gnucash.

HTH

Paul

--- On Tue, 5/19/09, Jim Tippett <jimtippett at optusnet.com.au> wrote:

> From: Jim Tippett <jimtippett at optusnet.com.au>
> Subject: Changing to new financial year
> To: gnucash-user at gnucash.org
> Date: Tuesday, May 19, 2009, 4:23 PM
> 
> I am a new user of GnuCash.  Love it so far.
> 
> One question though.  How do I ¨roll over¨ the
> accounts to a new financial
> year.  I am using version 2.2.6 on my desktop with
> Ubuntu 9.04.
> 
> Financial year here in Australia starts on 1st July and I
> have set start and
> end dates accordingly in GnuCash preferences (accounting
> period).
> 
> If this question is covered in any help files or forums
> please point me in
> the right direction.
> 
> Thanks,
> 
> Jim Tippett
> 
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