Budgets and closing the books.

[William Colls]

Some systems also allow for 13 accounting periods, with period 13 being 
the period in which you process the closing entries.

On 11-08-03 08:35 AM, Mike or Penny Novack wrote:
>
>> I do this too, fudge the dates to make a dedicated "close books" day.
>>
>> On Aug 3, 2011, at 2:05, Johannes Kapune wrote:
>>
>>
>>
> We need to understand what these people are saying.
>
> This is mainly a problem for those whose fiscal year does not coincide
> with the calendar year. Those of us for whom the fiscal year ends 12/31
> can manage by using 1/1 of the next year for the book closing treating
> this date as a day "not in any year" since ordinarily there would be no
> fiscal transactions with that date (banks closed, post offices closed,
> etc.). The only annoyance in not having available a "special date" (*)
> in between is having to adjust the report start dates so as not to
> include this date. But whether that can be done for "budget" is a
> question I can't answer.
>
> The problem with closing the books on the "last day" is that you likely
> do also have fiscal transactions that date, would to then run the end of
> year reports in between these and closing the books and the reports
> would not be rerunnable (not without backing off "close the books").
> However could get around this by doing a "save" (backup) following the
> reports and before "close the books" followed by a second backup after
> the books were closed (which becomes the next year's books). If you need
> to rerun a report use the first backup.
>
> Fudging the dates of transactions only acceptable for informal personal
> books, not real books.
>
> Michael D Novack, FLMI
>
> * The very large financial system that used to be my stamping ground had
> a special "year end" date. Requires that the calendar verification code
> recognize/allow this special date which was possible since our coding
> was in house.
> _______________________________________________
> gnucash-user mailing list
> gnucash-user at gnucash.org
> https://lists.gnucash.org/mailman/listinfo/gnucash-user
> -----
> Please remember to CC this list on all your replies.
> You can do this by using Reply-To-List or Reply-All.
>

-- 
I know you believe you understand what you think I said, but I am not 
sure that you realize that what you heard was not what I meant.