[GNC] Best Practice - Year-End

[David Carlson]

There is a feature called Tools > Close Book which automates the year end
process for those who wish to do that.



On Sun, Nov 16, 2025 at 12:48 PM Steve Butler <stephen.m.butler51 at gmail.com>
wrote:

> There is no preference.
>
> Some folks just keep entering transactions in the new year and let the
> software handle handle it.  Most reports know how to handle the
> retained earnings automatically.
>
> Some may add a column to the account register that will show the YTD
> accumulated value.
>
> Some, like myself, use the automated Close Books function to enter in the
> closing transaction to transfer Income and Expense amounts to Equity.
>
> Some may prefer to do that by hand ( which I presume is what you are
> doing).
>
> It boils down to your preference.
>
> On Sun, Nov 16, 2025, 10:15 Mike Brasler <mike at gilana.org> wrote:
>
> > Dear all.
> >
> > In the past I have created a cumulative income and expense account and
> > manually journalled every account to zero to end the year, allowing a
> > zero balance to start the new.
> >
> > The advantage in this is that "learned" behavior such as expense
> > allocations are remembered after rollover.
> >
> > In my previous and much loved accounting system a one button click
> > rolled over, but post closing journal entries were allowed. (NewAge
> > Accounting for DOS)
> >
> > Is there a preferred year-end procedure in GC?
> >
> > Regards.
> > Mike.
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-- 
David Carlson