Closing books

[am65]

I have always used the GnuCash "Close book" functionality. I can't imagine
having each year in a different file. Then I guess I would have to enter
manually the balance of the assets and liabilities accounts manually every
new year. It doesn't make sense to me. I'm also using MySQL as storage, it
doesn't make sense to have different database for each year.

The approach I use when closing books is to close both the income and
expenses accounts to the same account (Equity:Profits:Profit 2012) and this
way I never had problems with imbalances I have many times read in this
forum.

When I have to add a transaction to a closed year, for example unexpected
tax returns, then I just make a new transaction from the
"Equity:Profits:Profit 20XX" account to the bank account and this
transaction doesn't affect the profit current year.




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