[GNC] Why or why not to do year-end closing journal entries? (Close Books?)

[Stan Brown (using GC 4.14)]

On 2023-12-04 17:07, Eric Chapman wrote:
> OK, it looks as if it's just as good not to close the books, if, e.g., I
> might want to run an income statement comparing 2022 and 2023.
> 
> However, does that mean that every time I look at the "Accounts" tab I
> will see ever-growing amounts that reflect transactions from "Day 1" of
> starting to use GnuCash? And, correspondingly, I'll have to run a
> current year income statement report to see what I was able to see at a
> glance in Year 1? Seems less than ideal, but …

Here's the answer I got when I brought that up. In the accounts panel,
hit the down arrow and select Total (Period). That shows only the total
of transactions since the first day of the cur5rent period. That way you
have e.g. YTD interest at your fingertips without having to run a report.

You do still want to keep the Total column, though, because for Asset
and Liability and Net Worth you never close the books anyway: the
relevant total is always the total of transactions since Day Zero.

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