Year End processing question

[FireFly]

--- On Sat, 11/27/10, Jay Ridgley <jridgley2 at austin.rr.com> wrote:
> Does GnuCash allow for the inclusion of a closing date when
> the books are closed at the end of the financial year? 

Yes, in a word

You can close the books on any date you like, as often as you like.

The close books transaction in GNUCash "simply" creates zeroing transactions, on the date you specify, to zero all expense and income accounts to equity, so if you want to zero each month, each quarter, each year, you could do any, or all of these.

The biggest "issue" that most people report with closing books is that you can no longer run any meaningful reports including the date the close books was done, so you either need to run all reports prior to closing the books, or make sure no transactions are on the date you close the books, alternatively I supposed you could open the file, delete out the close books transactions, run the report, but then not save the file (note, in the new version that may not be as easy since the database versions save as transactions are done).

- James Duerr

E-mail: FireFlys_98 at yahoo.com
---------------------
Discover a lost art - play Marbles. May 2004
www.marillion.com