How to close an accounting year and open a new accounting year

[Derek Atkins]

Hi,

On Sat, April 21, 2012 3:24 pm, Biswaranjan Mishra wrote:
> Hello,
>
> I am just using gnu cash software to manage my home accounts. I am from
> India whose accounting year is April to March.
>
> But, the problem is that I do not know the steps to close the accounts in
> the previous accounting year and open a new accounting year with the
> relevant opening balances from the last years closing balance.
>
> I remain thanking you in advance in the anticipation of getting an early
> reply.

Technically there is nothing you need to do to "close the books".  Indeed,
there is no requirement (from GnuCash) that do you so, and GnuCash even
helps you without closing the books.  All you need to do is run an Income
Statement over your period and a Balance Sheet at your closing date.  Et
Viola, you have all the data you need for the period.

You *can* run the Tools-> Close Books tools if you really want to zeroize
your income and expense accounts, but there is no need or requirement to
do this.

There is no tool to create a new file from the existing file with account
opening balances.

Hope this helps.

> Thanks
>
> Biswaranjan Mishra

> 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