End of Year

[Derek Atkins]

Hi,

Ruth Morley <morley.ruth at gmail.com> writes:

> I have been working in gnucash most of this year and wonder if most users
> close out the calendar year or just carry on? If the answer is the former
> are there any useful tricks to starting the new year?

There is no right way or wrong way w.r.t. closing the books.  There is a
tool that will roll up all your Income and Expense transactions into
Equity (Tools -> Close Books).  This will zero out your In/Ex accounts
so the CoA will display the current year total.  But there is no
requirement that you use this tool.

The GnuCash Reports will happily provide a year-in-review with or
without the closing transactions.  So there is no need to close the
books if you don't want to.

Me, I've got my personal transactions going back to 2007 (or possibly
eariler -- I don't recall) and I've never closed the book.  My business
accounts go back further, again without closing.

I do make a yearly backup for posterity.

Hope this helps!

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-derek

-- 
       Derek Atkins, SB '93 MIT EE, SM '95 MIT Media Laboratory
       Member, MIT Student Information Processing Board  (SIPB)
       URL: http://web.mit.edu/warlord/    PP-ASEL-IA     N1NWH
       warlord at MIT.EDU                        PGP key available