losing data

[Chris Bester]

Hi Maf
Hope you had a good Xmas.
On the subject of balance sheets.  I agree that a balance sheet only makes sense when it is run to a specific date, however, it also only makes sense when it starts at a specific date.  A balance  sheet should reflect the "condition" of your business for a specific financial year having started with carried over asset and liability balances from the previous year and zeroed income and expense accounts.  You cannot have a balance sheet, for a financial year, with an opening balance of two or three years ago.  You must have a new opening balance at the beginning of every financial year. Programs like; Pastel, Brilliant, Quickbooks etc., automatically resets all accounts at the beginning of the new financial year and carries ending balances over as opening balances.  

I can use "Income Statements" , but then I will have to create a Balance Sheet on an Excel spread sheet.  Or I have to create a new company in Gnucash for every new financial year..

If I click on "Multi Column Reports" I get a blank sheet.  Could you please elaborate on this?

I sincerely appreciate your help thus far.

Chris 

-----Original Message-----
From: Maf. King [mailto:maf at chilwell.net] 
Sent: 24 December 2013 05:19 PM
To: Chris Bester
Cc: gnucash-user at gnucash.org
Subject: Re: losing data

On Tue 24 December 13 17:04:33 Chris Bester wrote:
> Hi Maf
> Thank you for your very comprehensive reply.  I will have to sit down 
> and study it very carefully.  But I have another question.  I have 
> asked this before and received various answers and suggestions.  Every 
> month, and at the end of my financial year, I present my committee 
> with a Balance Sheet and other financial statements.
> However, from the start of the new financial year I have to submit 
> financial statements every month, but with figures starting from zero.  
> I realize that in computerized accounting you do not need to end off 
> your year and start a new year as you can call up any figure in any 
> report by entering your own starting date and ending date, but not with your Balance sheet.
> You Balance sheet has to have your closing banking or equity balance 
> as an opening balance in the new year and all expense and income 
> accounts must start with zero balances.  In Gucash you can determine 
> starting dates and ending dates for all reports except the Balance 
> Sheet.  You cannot run your Balance sheet forever with accumulating figures.
> Do you have an answer to this one?
> 
> Season's  Greetings to you to.  Hope you have a wonderful Xmas.
> 
> Chris
> 

Hi Chris,

The Balance sheet can only make sense if it is run to a specific date.  There are X assets and Y liabilities on whatever date.

I think you need possibly something like the Income Statement report if you need to report changes in time for assets etc.

You could run 2 balance sheets and put them side-by-side to compare last year with current year (see multi column report), which is how my company books end up being reported, after some data manipulation and fomatting / layout by the accountant (not actually in GC, but starting from my exported GC reports)

HTH,
Maf.