[GNC] XML or database?

[R Losey]

Interesting history... but I don't think I'll bother...

I was forced into doing this under Quicken because the file was so large
that it was unmanageable (possibly because Intuit said to do it) If that
ever becomes a problem with GnuCash, I'll just make a copy of the
datafiles, and then go through and delete older transactions

On Mon, Nov 7, 2022 at 7:55 PM Michael or Penny Novack <
stepbystepfarm at comcast.net> wrote:

> On 11/7/2022 7:11 PM, Kevin Buckley wrote:
>
> In the "old days" of pen and ink on paper accounting, it was common to
> open new books each year. They were, after all, bound volumes of finite
> size, that's why we say "the books". The process was:
>
> a) Do a "close the books" operation with all income and expense accounts
> closed to equity. They are, after all, temporary accounts of fundamental
> type equity. Usually this would be through first closing them to another
> temporary account of type equity (profit and loss) and then THAT closed
> to equity by the net profit or loss to bring into balance.
>
> b) At this point the only accounts with non-zero balances would be the
> standing accounts of types asset, liability, and equity. Run the Balance
> Sheet report..
>
> c) Open the books for the new accounting period --- create the CoA with
> all zero amounts and then the first transaction is the opening
> transaction from the balance sheet << it would be a giant transaction,
> split on both the debit and credit sides.
>
> You can do this with gnucash too. It is time consuming and a lot of work
> if/f you have lots of accounts of type asset, liability, and equity.
> Otherwise it is a snap.
>
> Michael D Novack
>
>
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-- 
_________________________________
Richard Losey
rlosey at gmail.com
Micah 6:8