On Thu, Mar 20, 2014 at 2:52 PM, Rick F <[email protected]> wrote: > Well, now that I'm dealing with a real accountant to get my taxes done, I > have to produce these accounting reports. How to produce these reports has > been covered already on this list, but to summarize (assuming you have the > standard five accounting categories): > > Profit and Loss: ledger bal '/^Revenues|^Expenses/' > Balance sheet: ledger bal '!/^Revenues|^Expenses/' > > Here's where having a real accountant comes in. The above produces a > balance sheet that doesn't balance. He expects there to be an > Equity:Retained Earnings account where this year's profits end up in order > to make the whole thing balance. I tried adding an entry: > > 12/31 Year End > Revenues =$0 > Expenses =$0 > Equity:Retained Earnings > > But that fails if Revenues and Expenses have subcategories, and frankly > they're not useful if they don't. Even if I get rid of subcategories just > to force this, it balances the balance sheet, but it also balances the P&L, > making it look like I made no money last year. > > How do others get this to work? >
In the Beancount implementation, what I call "previous earnings" (the sum total of all income and expense accounts from the beginning of time to the START of the reporting period) are moved from income/expense accounts by automatically-created transactions to an Equity:Earnings:Previous account, and retained earnings / net income (the sum total of all income and expense accounts from the start of the reporting period to the end of the reporting period) are moved - for the balance sheet only - by automatically-created transactions to an Equity:Earnings:Current account. For currency conversions, in order to ensure a 0 balance, there are Equity:Conversions:Previous and Equity:Conversions:Currenty accounts which reestablish per-currency balances. You can click on trial balance - the sum of all accounts in the ledger - and the sum is 0. -- --- You received this message because you are subscribed to the Google Groups "Ledger" group. To unsubscribe from this group and stop receiving emails from it, send an email to [email protected]. For more options, visit https://groups.google.com/d/optout.
