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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