[GNC] Period Ends

[Mike Stillingfleet]

Dear All,

Several years ago I attempted to close off at end of year and it didn't end well.

I am revisiting this topic and trying to work out if there is any benefit to it.

1. My period runs 6/4/xxxx to 5/4/xxxx so on a calander basis therefore I believe I should be choosing relative for period start and period end.

2. I currently have access to all my transactions which is very useful. If I understand the process correctly to maintain access to these transactions I need to create separate files for each year prior to doing the period close. So for future searches I would need to work through several files.

3. If I have set the accounting periods and I have control over the date ranges in other reports I am not clear as to what advantage I gain by closing prior periods. When I used Quicken if I remember correctly closing a period was part of the reconciliation process. However, transactions were not zeroed as far as I remember and so that could still be viewed.

Any advice / comment would be welcomed. 

-- 
  Mike Stillingfleet
  mikestillingfleet at fastmail.co.uk