Balance date question

[kmash]

Hi people,

That could be a stupid question but I'd really like to be sure.
Generating balance sheet report with date, say, 2012-12-31. Ok, what time
does it imply?
Is it 23:59:59? Or 00:00:00? 
Same applies to 'Tools/Close book' feature.

I suppose it is always end of the day (23:59:59), right?

K.Mash



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