Closing The Books

[Mike or Penny Novack]

John Donnee wrote:

>According to the “Help” in the Close Books Menu, it sounds like there is really no reason to close the books if the reports will give you YTD information for this year which is really what I am most interested in.
>
>Does this sound correct?
>
>Thanks
>John Donnee
>
>910.622.8111
>8422 Emerald Dunes Rd.
>Wilmington, NC 28411
>
>  
>
There ARE reasons why some might want to do a "close the books". But you 
are correct in that being able to produce a "Profit and Loss Statement" 
(aka "Statement of Revenues", depends on type of entity for which books 
are kept) by running what gnucash calls "Income Statement" can provide 
the information without doing a "close the books.".

Michael