[GNC] End of year rollover

Wed Mar 20 22:04:12 EDT 2019

 Of course you can. Google "close books site:gnucash.org" and read up on the myriad opinions and issues that you might encounter. 

  On Thu, Mar 21, 2019 at 1:00, Philip Burg<philip_burg at hotmail.com> wrote:   I would like to close my books at the end of my financial year but have access to the previous years files, my thoughts were to archive the file at the end of the year by backing up to a cd/dvd then start afresh with the new financial year. would  this be possible. I am using windows 10 and Gnucash Version 3.4 Build I.D. 3.4+(2018-12-30)

Regards

Philip Burg

Sent from Mail<https://go.microsoft.com/fwlink/?LinkId=550986> for Windows 10

________________________________
From: gnucash-user <gnucash-user-bounces+philip_burg=hotmail.com at gnucash.org> on behalf of Matthew Andrews <matthewandrews80 at gmail.com>
Sent: Wednesday, March 20, 2019 3:57:12 PM
To: gnucash-user at gnucash.org
Subject: Re: [GNC] End of year rollover

Hi Adrien,

I just joined this list with the same question.  Great timing!  I like
your suggestion.  It seems easier than starting a completely new file,
importing the accounts tree, and entering any starting balances left
over from the previous year.

It took me a bit of time to figure out how to add a column to the chart
of accounts.  I found the answer in chapter 10 of the gnucash-guide.pdf,
in case anyone else is looking.  There's a little down arrow on the top
right corner of the accounts window that gives more display options.

Adding my thanks!

~Matthew

On 3/20/19 6:36 AM, garage cowboy wrote:
> Thanks for the reply -  and the helpful tips.
>
> regards,
>
> ALT
>
> On Tue, Mar 19, 2019 at 10:42 PM Adrien Monteleone <
> adrien.monteleone at lusfiber.net> wrote:
>
>> Welcome to GnuCash!
>>
>> There is a ‘close books’ procedure you can use that zeros expenses and
>> income to equity as ‘retained earnings/losses’ but you don’t have to use
>> it. GnuCash does not require that you clear anything out at the end of the
>> year. (and doing so can impact your ability to run reports in some cases)
>>
>> There are people with 10+ years of data in very large files (with lots of
>> stock tracking) and other than some slow loading times, there aren’t any
>> major issues. (there are work arounds for the slow loading - somewhat)
>>
>> Some people do a close books and open a new file each year. But that
>> process requires archiving reports and the data files. It also means you
>> can’t run reports for multiple years without external help (like from a
>> spread sheet) or you can’t run reports that cross yearly boundaries. (say
>> from 4Q18 to 1Q19) And if you want to look at prior year(s) data, you have
>> to open each of those files separately.
>>
>> The Chart of Accounts tab has an available column for totals that show all
>> data in the entire book. (running totals from when you started using
>> GnuCash) It also has a column you can make visible for totals just for this
>> accounting period. (year) That way you can have an ‘at a glance’ view of
>> your accounts without running Income Statements or Balance Sheets. (but
>> those are available of course if you need them) The Summary Bar also shows
>> current net worth and retained earnings/losses.
>>
>> My personal workflow is to not use the close books procedure, make the
>> current period totals visible on the Accounts tab, as well as keep open a
>> YTD P&L, and a monthly P&L for last month and this month. I run Balance
>> Sheets as needed. I also never close GnuCash except for upgrades. Thus I
>> don’t experience the data file loading but a few times a year. And it is
>> still relatively painless. (special note - loading is significantly slower
>> if you leave reports open when closing the app. They will be loading on
>> re-opening the program which takes some time)
>>
>> As for reconciled transactions, they don’t ‘go away.’ But you can filter
>> your register views if you don’t want to see them. (or any transaction
>> before a certain date, say in the previous year)
>>
>> Regards,
>> Adrien
>>
>>> On Mar 19, 2019, at 5:36 AM, garage cowboy <garagecowboy3128 at gmail.com>
>> wrote:
>>> Hi  - I am a new gnucash user  ( just a few weeks).
>>>
>>> First of all, congratulations and thanks to all those  who have
>> contributed
>>> to  this great product.
>>>
>>> My question is about EOFY processes  - I am used to products  which have
>>> an end of year rollover process which clears reconciled transactions  -
>> is
>>> there equivalent function in gnucash?  What is the recommended approach?
>>> am wondering  what will happen in a few years  when there are thousand of
>>> transactions in the xml  file.
>>>
>>> Also interested in contributing to the cause  but not a developer.
>>>
>>> regards,
>>>
>>> GC
>>
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