Eric, you can still do this if you close the books each year:
> 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.
Be brave! Try it and see for yourself ;--)
Regards
Geoff
=====
On 5/12/2023 12:07 pm, Eric Chapman wrote:
Hi, Geoff,
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.
Eric
Geoff or anyone else,
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 …
Thanks,
Eric
On 12/4/23 19:40, Geoff wrote:
Hi Eric
To close or not to close is entirely a personal decision.
From https://wiki.gnucash.org/wiki/Closing_Books
"Using Close Book Option
Since 2.2.4, there has been a menu item for closing the books under
{Tools->Close Book}. This item creates two zeroing transactions (one
for expense accounts, one for income accounts). Each account in those
portions of the accounts tree is reset to zero by transferring from
the equity account of your choosing."
Try it yourself and see. It is a non-destructive process that you can
simply cancel, either by deleting the two transactions it generates in
the Equity account you nominated, or closing without saving.
If you are interested in what other people do, this topic is discussed
periodically:
https://lists.gnucash.org/pipermail/gnucash-user/2022-January/099274.html
Regards
Geoff
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