[GNC] Period Ends

[Jesse MacDougall]

2) all your data goes in one file KISS

Period ends are for security so that entries can not be posted to once
period end processes are complete. For example in public accounting we
close off year end files once our year end work is complete. All statements
match bank account and. credit cards there the file is complete

Another reason for year end close is so someone doesn't go back and make
changes to work we already concluded is complete.

On Fri., Jan. 7, 2022, 01:41 Mike Stillingfleet, <
mikestillingfleet at fastmail.co.uk> wrote:

> 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
> _______________________________________________
> gnucash-user mailing list
> gnucash-user at gnucash.org
> To update your subscription preferences or to unsubscribe:
> https://lists.gnucash.org/mailman/listinfo/gnucash-user
> If you are using Nabble or Gmane, please see
> https://wiki.gnucash.org/wiki/Mailing_Lists for more information.
> -----
> Please remember to CC this list on all your replies.
> You can do this by using Reply-To-List or Reply-All.
>