[GNC] Changing from one year to the next

[Doug]

Martin,
 I just use continuous books. It is great being able to search for 
the details of that thing you bought 5 years ago!
 How I do my yearly books (tax return) is to build a report that includes 
all the relevant accounts, & the dates are set as first financial year day
(1 July in Australia) to end date (30 Jun), then generate the report. I 
have saved the report, so all I need to do each year is to update the dates 
& add any new accounts. I can run that report any time if I need to review 
my income.
 My books are not complicated, but I do reconcile all my accounts every month 
to check for fraud (& have found some unfortunately). My account keeping is 
mainly to manage some rental properties, so rent payment, Maintenance, & 
claimable expenses.
 In Australia, when a property is sold that is not one´s primary residence, 
there are costs associated with purchase that can be claimed on sale. Very 
handy to be able to easily find those costs that may have been many, many 
years ago.

btw, I run one set of books for private & business accounts. I use reports 
to sort out the Business details required. I do not use invoicing for my 
needs.

regards, Doug



On Sun, 18 Jan 2026 18:48:55 -0800
Steve Butler <stephen.m.butler51 at gmail.com> wrote:

> Look at close books.  But that is optional.  You can just continue and all
> will be good.
> 
> On Sun, Jan 18, 2026, 18:17 Monroe Bryant <monroe.bryant0414 at gmail.com>
> wrote:
> 
> > Where do I find, in the manual, how to transition from one year to the
> > next rather than just continuing.
> >
> > Monroe Bryant
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