Financial Year Sub Accounts for each Account?

[Mike or Penny Novack]

AfrikaDietmar wrote:

>Hi,
>
>I want to input +5 years of financial data of my holiday rentals business
>into GnuCash. My financial years always start on the:
>01.06.xx and end 31.05.xx | or for example 01.06.2014 - 31.05.2015
>
>Before I start this big project, I want to make sure of the structure of
>accounts that I will use and I would like to have some of your opinions
>before I regret later all the effort.
>
>In the main accounts Tab, you get an overview of all your figures. It sums
>them all up.
>I was wondering if there is a way I can have my accounts also show for each
>financial year.
>  
>
 >>>>>>>
It is quite possibe that you are confusing "what accounts show" with 
what is shown by the normal reports used. The latter can have dates 
asingned to them and so show the data for the specified accounting 
period regardless of what the account totals (for several periods) might 
be. However IF you want the totals (income and expenses) showing for an 
accounting period while you are within one then you would want to do a 
"close the books" for each accounting period.

I think you need to study up on "fundamentals of accounting" (for your 
sort of business) and probably should be using a more comprehensive 
source (book on accounting) than provided in the brief intorduction to 
double entry bookkeeping that comes with gnucash. I say that 
particularly because of your reference to "wallet" as this would 
normally not be part of a set of books for a business.

Gnucash is wonderful free software that automates much of the more error 
prone parts of old fashioned pen and ink on paper bookkeeping. But it 
can't teach you WHAT to do. Properly we here can help you with the HOW 
to do (using gnucash, as opposed to something else) but the WHAT you 
still have to know.

Michael D Novack