End of year - P&L reports include the closing transaction so everything is NIL

[Mike or Penny Novack]

David Ryan wrote:

>Thanks David.  I did search for answers and got stuff from many years back but didn't see much current or definitive.  The issue as you pointed out is that anything I found is unofficial & inconclusive.
>
>It seems strange that a pretty standard function like rolling over at year end isn't fully supported.  I know the mega transactions are posted and the accounts are cleared, but I would have thought it was pretty standard to be able to run prior years P&L reports without having to manually bodge the report. 
>
>  
>
Actually, you DON'T have to "bodge the report" in order to (later) rerun 
pre close reports. All you need do is remember to have saved a copy of 
the books to a name like "precloseyyyy" (yyyy of course being the 
identifying year).

What I usually do for my orgs is save that (and burn it to be able to 
send safely off site) and then rename the current books for the next 
year and do the close transactions and then run the post close reports. 
Burn a copy of that too (actually, both copies and all the reports get 
burned to the the backup medium -- one kept here in the fire safe and 
one sent off into other hands).

I mean you WERE going to do things like make a permanent copy of the 
year end data anyway, right?

Michael