ending off books

[Liz]

On Fri, 22 Nov 2013 21:03:02 +0200
"Chris Bester" <chrisbester at cybersmart.co.za> wrote:

> Hi There
> 
>  
> 
> Could anyone out there help.  My books have to be closed off at the
> end of the financial period.  Closing balances will then become
> opening balances at beginning of the new year.  How do I do it in
> Gnucash?  I cannot keep my books going for ever. There has to be an
> end an a beginning. 
> 
> Please help
> 
>  
> 
> Thanks 
> 
>  
> 
> Chris
> 

While we often point people to basic bookkeeping principles to sort out
how to use Gnucash for their financial needs, this is the use case that
is different to paper bookkeeping.

1. Computerised bookkeeping does NOT require closing of books at the
end of a financial year

2. Computerised bookkeeping makes the "end" and "beginning" virtual by
the use of reports.

3. Computerised bookkeeping can do a forced close at any time (see
other mails)

4. Computerised bookkeeping does not close off so that you cannot add
any later entries - if you want to have this facility you will need to
organise to have your files notarised by an independent party.

5. Now are you SURE you need to close your books?
Mine have continuous data since 1995, making it easy to follow matters
like income across many years with simple report formats.