[GNC] How to run Year End Procedures for the Tax Year (UK end 5 April 2023), and start new Data set for the New Tax Year starting 6 April 2023

[Stan Brown]

On 2023-04-07 17:35, paul at kroitor.ca wrote:
> That being said, there are comments in various Gnucash places
> (Documentation, Wiki, Mailing List histories) to the effect that closing
> books is considered a slightly old-fashioned way of doing things, and
> although perhaps not discouraged, isn't strictly necessary. My own
> preference is to do annual closings on all five sets of books I track. It
> makes some reporting a little trickier to obtain, but on balance I like it
> better.

I close my books each year so that the balances in my income and expense
accounts will be totals for the current year only. If I had to redo
prior-year reports or some reason it would be slightly awkward; but
that's minor against the convenience (for me) of being able to see
year-to-date income in the Accounts page and in the registers of the
individual accounts. That's faster than pulling a report, at least for me.

Stan Brown
Tehachapi, CA, USA
https://BrownMath.com