Year end options

[Mike or Penny Novack]

On 3/7/2017 3:55 AM, Alain Dormoy wrote:
> The idea is not to carry a ledger going back 8 years.
> Seems a bit cumbersome but if you should tell me that carrying it that way is common practice with GC users I guess I'll do it too.
>
> Also it would be useful to have some guarantee that you can't inadvertently modify an entry in a year after you closed the book for that year. Does GC support that?
>
If you want to mimic the way it was done in the old days, pen and ink on 
paper in bound volumes with new volumes for each year you can.

1) Before doing the "close the books", make a copy of the file -- pre 
close (run the P&L report)
2) After doing "close the books" make another -- post close. (run the 
Balance Sheet)
3) Export the CoA and import into your  books for the new yea. Use the 
Balance Sheet to enter the initial balances of all the standing account 
(all the accounts of type asset, liabilities, and equity -- all the 
income and expense accounts will be zero)
4) I would ALSO ---- make copies of the first two copies on read only 
memory an send to a safe location leaving the one you have on site for 
quick reference if needed. Run a Balance Sheet on the new file to 
confirm that it matches what you (supposedly) entered data from.

Michael D Novack