close books

[Dennis Powless]

I've went into each of the expense accounts and entered a zero out
transaction to equity:retained earnings for each year.  This, from
what I've been reading is similar to closing the books.  And quite
reversible if I ever should need to use that data for reports.  Is
this acceptable and will it mess things up in other areas?  Now, what
do I do about the huge equity accounts?  Do the same to those?  Zero
them out somehow.

Thanks,