Closing books

[Arne Hanssen]

Den 05. jan. 2013 22:22, skrev Yawar Amin:
> This has been discussed quite a few times before. In GnuCash, it's _completely unnecessary_ to close books. GnuCash's reports handle multiple periods smoothly without you needing to needing to mark period transitions in any way.
>

Is that a fact?  I have never tested that as I always have closed books. 
  From a bookkeeping point of view (sorry for my bad english), closing 
books should be the (only) correct procedure as this transfers all 
income and costs to an equity account and zeroes all income and cost 
account balances, ready for a new year (or whatever period).

As far as I can see (and remember right now), the loss og gain for a 
given period is reported as not posted and equity balance is not updated 
until i close books.  But if you mean that closing books is unnecessary 
when using GC for simple usage where formal correctness is not an issue, 
you may be right, or I am missing something?

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