Year end issues

Ken Pyzik pyz01 at cox.net
Mon Jan 15 11:11:16 EST 2018


David -- Excellent point.  To expand upon it let's demonstrate this: 

At 12/31/2017 -- you have balances in all your accounts -- for brevity, will just use one real simple example: 

At 12/31/2017 -  let's assume the checking account has a balance of $500.   If you eliminate all 2017 transactions, the balance would be different -- as it would be the balance as of the end of 2016 (since the net effect of all of the 2017 transactions would have been eliminated).   Now let's say at the end of 2016, the balance of the checking account was $1200 (i.e., as a result of all the transactions for 2017, the net effect was a -$700).  But you eliminated the transactions so the starting balance is now $1200 -- but that is not what your starting balance was on 1/1/2018.

So, one could isolate all the 2017 transactions -- place them in 2017 accounts -- calculate the net effect of all of those transactions on each account -- plug "net-effect-transactions" to the existing accounts with contra (balancing transactions) to "other balancing / opening balances adjustments account" and in effect do what you want.  But the labor to do this would probably be more than just doing as David has said -- start a new file for 2018.  

Finally, if you really want to isolate 2017 - you could set up "checking account-2017 " and then another "checking account -2018' as 2 separate accounts and start charging the new expenses, etc. to the new 2018 account.  But again - this has a tendency to double all your accounts.  That is why the reporting mechanism in there.   You can have continuous accounts, and isolate, for reporting, a number of transactions for any given period (a month, a year, a calendar year, a fiscal year, a 6-30 to 6-30 time period, etc.)

Hope that helps and did not confuse the subject. 


-----Original Message-----
From: gnucash-user [mailto:gnucash-user-bounces+pyz01=cox.net at gnucash.org] On Behalf Of David T. via gnucash-user
Sent: Monday, January 15, 2018 7:39 AM
To: Jack Whyte <jvwhyte at gmail.com>
Cc: gnucash-user at gnucash.org
Subject: Re: Year end issues

No, there isn’t. The Close book feature simply creates a transaction that zeroes out your income and expense accounts as of a given date.

In a double entry accounting system, if you delete the expense side of the transaction, what do you suggest doing for the Checking account side? If you are desperate to clear out older transactions, you will most likely have to create a new file with a new set of opening balances. See https://wiki.gnucash.org/wiki/Closing_Books <https://wiki.gnucash.org/wiki/Closing_Books>

Of course, many people prefer to keep historical transactions, and use reports to extract subsets of their file as needed.

David

> On Jan 15, 2018, at 8:03 PM, Jack Whyte <jvwhyte at gmail.com> wrote:
> 
> Hi there
> 
> I have used GNU Cash for a number of years to monitor my personal finances.   I have just run the Tools > Close book function to clear down all my expense & income account balances as at 31/12/17 however I seem to have transactions in all of these accounts going back, in some cases, to 2009/2010.
> 
> Can someone please advise me if there is a straightforward mechanism to delete all transactions in these accounts - say, up to and including 31/12/2016 as I am concerned the file, currently at around 1.3MB, will become unwieldy and unmanageable.
> 
> Thanks & regards
> Jack
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