new year
Mike or Penny Novack
mpnovack at mtdata.com
Sun Nov 8 14:44:18 EST 2015
On 11/8/2015 1:06 PM, Gary Holtum wrote:
> Is there a way to close this year's file and start a new year (new file)
> carrying over balances in all but the expense accts?
>
> Gary
>
Look up "close the books". That is the traditional way to do accounting,
and gnucash has a facility for automating the process. Of course casual
users will probably not bother, since gnucash can produce the usual
reports as if books had been closed. BTW, you probably meant "in all but
expense AND income accounts". Accounts of type income and expense are
actually "temporary" accounts of fundamental type equity. What "close
the books" is doing is closing them to equity.
I strongly suggest that if you do "close the books" you make a backup
copy of the books immediately before and immediately after so that in
the future you can easily rerun reports.
Michael
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