[GNC] Report Generation problem

[Michael or Penny Novack]

On 1/23/2025 3:34 PM, Colin Penner wrote:
> I want to switch from Quicken to Gnu-Cash. The only problem that I have is that Gnu-Cash Balance Sheet reports include a line of either "Retained Earnings" or "Retained Liabilities". For my requirements I MUST eliminate both of these lines. Is there any way that this can be accomplished? The Docs don't say.

Retained Earnings/Retained Liabilities is a virtual account representing 
the NET of all open income and expense accounts. It's the consequence of 
running a Balance Sheet without first doing a "close the books".

I have no idea what Quicken means by a Balance Sheet as AFAIK Quicken is 
not double entry bookkeeping.

The FUNDAMENTAL account types are Asset, Liability, and Equity. Long, 
long ago (hundreds of years ago) transactions we consider income or 
expense we written immediately against equity. The somebody came up with 
the bright idea of accounts of type income and expense, temporary 
accounts of fundamental type equity. Let people look at income and 
expense accounts. Then at the end of the period these closed to another 
temporary account of type equity called "profit and loss" and this 
account closed to equity (the necessary amount would be the net 
gain/loss for the period. It is THAT you are seeing in the balance sheet 
(gnucash is letting you produce the reports without actually closing the 
books.

Michael D Novack