End of Year

[david.carlson.417@gmail.com]

    I would guess that users who migrated from Quicken, like me, probably are less likely to close their books at year end.  At the time I left that program there was no close books feature there.
The only disadvantage that I have found to not closing my books is that the income and expense accounts eventually show huge totals if they have been accumulating for years.  It gets impressive to see how much I spent on cellphones over the last decade☺
If I really care to see interval totals I just run a report.
David C
Sent from my LG G Pad 7.0 LTE, an AT&T 4G LTE tablet



------ Original message------From: Derek AtkinsDate: Thu, Dec 29, 2016 9:33 AMTo: Ruth Morley;Cc: gnucash-user at gnucash.org;Subject:Re: End of Year
Hi,Ruth Morley  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 atool that will roll up all your Income and Expense transactions intoEquity (Tools -> Close Books).  This will zero out your In/Ex accountsso the CoA will display the current year total.  But there is norequirement that you use this tool.The GnuCash Reports will happily provide a year-in-review with orwithout the closing transactions.  So there is no need to close thebooks if you don't want to.Me, I've got my personal transactions going back to 2007 (or possiblyeariler -- I don't recall) and I've never closed the book.  My businessaccounts go back further, again without closing.I do make a yearly backup for posterity.Hope this helps!> Please remember to CC this list on all your replies.> You can do this by using Reply-To-List or Reply-All.-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_______________________________________________gnucash-user mailing listgnucash-user at gnucash.orghttps://lists.gnucash.org/mailman/listinfo/gnucash-user-----Please remember to CC this list on all your replies.You can do this by using Reply-To-List or Reply-All.