Fwd: Closing books

[Derek Atkins]

Dean,

Are you saying you have never run a Balance Sheet or Income Statement
(P&L) Report?  That's surprising.  It gives you much more information than
just looking at your Chart of Account balances, regardless of whether or
not you close the books.  (For the record, I haven't closed my books since
2007, but I might do so soon.  But it's intersting to see my total-to-date
on INcome ... and wonder where it all went.  ;)

-derek

On Mon, January 7, 2013 10:34 am, Yawar Amin wrote:
> Gah! Forgot to cc the list
>
> Begin forwarded message:
>
>> From: Yawar Amin <yawar.amin at gmail.com>
>> Date: 6 January, 2013 23:19:44 EST
>> To: Dean Gibson <gnucash at ultimeth.com>
>> Subject: Re: Closing books
>>
>> On 2013-01-06 21:23, Dean Gibson wrote:
>>> [...]
>>>
>>> Closing books is necessary if you want the account totals in income &
>>> expense ledgers to reflect YTD balances (as I do).
>>>
>>> I've never run a GnuCash report.  No need.
>>
>> I guess we're talking about a philosophical difference here. In GnuCash,
>> you can use both approaches. Closing the books means you get YTD
>> balances in the main accounts page. But _not_ closing the books means
>> one less `housekeeping' task, and relying on the reports for accurate
>> balances.
>>
>> Regards,
>>
>> Yawar
>>
>>
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-- 
       Derek Atkins                 617-623-3745
       derek at ihtfp.com             www.ihtfp.com
       Computer and Internet Security Consultant