P&L and expenses / creditors

[Derek Atkins]

Hi,

On Tue, July 5, 2011 6:49 am, eventure2 wrote:
> The Core of the problem resides in the fact that expenses are attached to
> the
> creditors which correct but same are not reflected at Profit & Loss Level.

I don't understand the issue here.  Expenses are attached to a creditor
generally through the description and potentially through the A/P lot if
you use the biz features.  They are reflected in the P&L based on the
Expense Account you used while entering the transaction.

> Furthermore is there a module for report writing so that individual ledger
> accounts can be utilised to obtain Balance Sheet and a correct Profit &
> Loss.

I don't understand what you mean by "Correct P&L".  There is a Balance
Sheet report already.

> The next point is how to close a financial year and then reopen a new
> financial period.

It depends what exactly you're trying to accomplish by "closing".  There
is Tools -> Close Books. It just adds zeroizing transactions to all your
Income and Expense accounts to reset them.  However GnuCash does not have
anything to make historical transactions read-only.

> Thanking you for your Kind assistance.

> Please remember to CC this list on all your replies.
> You can do this by using Reply-To-List or Reply-All.

-derek

-- 
       Derek Atkins                 617-623-3745
       derek at ihtfp.com             www.ihtfp.com
       Computer and Internet Security Consultant