ending off books

[Chris Bester]

Hi Liz
Thank you for your advice and to all the other friends offering advice.

I am writing from South Africa and may be my terminology is different from
yours.  In Patel, Quick Books, Brilliant etc., your program automatically
does an end of year.  Your books are not in effect closed off and stopped,
it does carry on.  However, it automatically starts a new year with all the
ending balances of the previous year appearing as opening balances ,for the
new year.  They all then have a continuous facility, for whenever you want
to recall information, from the previous year.  The advantage of this is;
that there is no chance of contaminating your present books with that of the
previous year.

I do understand what you are saying, but being new to Gnucash,  I am
slightly confused.

Thanks
Chris 

-----Original Message-----
From: gnucash-user-bounces+chrisbester=cybersmart.co.za at gnucash.org
[mailto:gnucash-user-bounces+chrisbester=cybersmart.co.za at gnucash.org] On
Behalf Of Liz
Sent: 23 November 2013 08:53 AM
To: gnucash-user at gnucash.org
Subject: Re: ending off books

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.
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