Re: [GNC] Period Ends
On 1/7/2022 12:21 PM, Jesse MacDougall wrote: Thanks for clarifying that Gyle. Interesting. Yes definitely never post to past periods. Move forward. You can prevent, or at least detect violations of this by making a year end copy of the file to read only medium (well, write once medium). I used to do this for the organizations for which I kept books. Actually at least two copies, one kept and one given into the custody of another organizational office. In case a question ever arose about alteration of past data, could be compared. This is more reliable than any software "locking" mechanism, especially if the person supposedly blocked from making alterations is a software professional (which I was). For similar reasons, instead of showing the BOD the statement from the bank to compare to the report, I would have another officer obtain a copy of the statement directly from the bank. If the bank's programmers could have their computers print that statement, so could I have my computers print something exactly like it. Michael D Novack ___ gnucash-user mailing list gnucash-user@gnucash.org To update your subscription preferences or to unsubscribe: https://lists.gnucash.org/mailman/listinfo/gnucash-user If you are using Nabble or Gmane, please see https://wiki.gnucash.org/wiki/Mailing_Lists for more information. - Please remember to CC this list on all your replies. You can do this by using Reply-To-List or Reply-All.
Re: [GNC] Period Ends
Thanks for clarifying that Gyle. Interesting. Yes definitely never post to past periods. Move forward. On Fri, Jan 7, 2022 at 8:07 AM Gyle McCollam wrote: > Jesse, Unfortunately, Gnucash does let you post to closed periods. This > will mess up the closing entry, which will need to be adjusted. I agree > you shouldn't post to closed periods, however the program does allow and > doesn't warn if you do it. > > Thank You, > *Gyle McCollam* > > Gyle McCollam > > 609.680.2326 Mobile > > gmccol...@live.comemail > -- > *From:* gnucash-user > on behalf of Jesse MacDougall > *Sent:* Friday, January 7, 2022 10:49 AM > *To:* Mike Stillingfleet > *Cc:* gnucash-user@gnucash.org > *Subject:* Re: [GNC] Period Ends > > 2) all your data goes in one file KISS > > Period ends are for security so that entries can not be posted to once > period end processes are complete. For example in public accounting we > close off year end files once our year end work is complete. All statements > match bank account and. credit cards there the file is complete > > Another reason for year end close is so someone doesn't go back and make > changes to work we already concluded is complete. > > On Fri., Jan. 7, 2022, 01:41 Mike Stillingfleet, < > mikestillingfl...@fastmail.co.uk> wrote: > > > Dear All, > > > > Several years ago I attempted to close off at end of year and it didn't > > end well. > > > > I am revisiting this topic and trying to work out if there is any benefit > > to it. > > > > 1. My period runs 6/4/ to 5/4/ so on a calander basis therefore I > > believe I should be choosing relative for period start and period end. > > > > 2. I currently have access to all my transactions which is very useful. > If > > I understand the process correctly to maintain access to these > transactions > > I need to create separate files for each year prior to doing the period > > close. So for future searches I would need to work through several files. > > > > 3. If I have set the accounting periods and I have control over the date > > ranges in other reports I am not clear as to what advantage I gain by > > closing prior periods. When I used Quicken if I remember correctly > closing > > a period was part of the reconciliation process. However, transactions > were > > not zeroed as far as I remember and so that could still be viewed. > > > > Any advice / comment would be welcomed. > > > > -- > > Mike Stillingfleet > > mikestillingfl...@fastmail.co.uk > > ___ > > gnucash-user mailing list > > gnucash-user@gnucash.org > > To update your subscription preferences or to unsubscribe: > > https://lists.gnucash.org/mailman/listinfo/gnucash-user > > If you are using Nabble or Gmane, please see > > https://wiki.gnucash.org/wiki/Mailing_Lists for more information. > > - > > Please remember to CC this list on all your replies. > > You can do this by using Reply-To-List or Reply-All. > > > ___ > gnucash-user mailing list > gnucash-user@gnucash.org > To update your subscription preferences or to unsubscribe: > https://lists.gnucash.org/mailman/listinfo/gnucash-user > If you are using Nabble or Gmane, please see > https://wiki.gnucash.org/wiki/Mailing_Lists for more information. > - > Please remember to CC this list on all your replies. > You can do this by using Reply-To-List or Reply-All. > -- * Please consider adding jesse@macdougall.ninja to your address book. This will be my new address. This gmail address is being retired. ___ gnucash-user mailing list gnucash-user@gnucash.org To update your subscription preferences or to unsubscribe: https://lists.gnucash.org/mailman/listinfo/gnucash-user If you are using Nabble or Gmane, please see https://wiki.gnucash.org/wiki/Mailing_Lists for more information. - Please remember to CC this list on all your replies. You can do this by using Reply-To-List or Reply-All.
Re: [GNC] Period Ends
Jesse, Unfortunately, Gnucash does let you post to closed periods. This will mess up the closing entry, which will need to be adjusted. I agree you shouldn't post to closed periods, however the program does allow and doesn't warn if you do it. Thank You, Gyle McCollam Gyle McCollam 609.680.2326 Mobile gmccol...@live.com<mailto:gmccol...@gyleshomes.com> email From: gnucash-user on behalf of Jesse MacDougall Sent: Friday, January 7, 2022 10:49 AM To: Mike Stillingfleet Cc: gnucash-user@gnucash.org Subject: Re: [GNC] Period Ends 2) all your data goes in one file KISS Period ends are for security so that entries can not be posted to once period end processes are complete. For example in public accounting we close off year end files once our year end work is complete. All statements match bank account and. credit cards there the file is complete Another reason for year end close is so someone doesn't go back and make changes to work we already concluded is complete. On Fri., Jan. 7, 2022, 01:41 Mike Stillingfleet, < mikestillingfl...@fastmail.co.uk> wrote: > Dear All, > > Several years ago I attempted to close off at end of year and it didn't > end well. > > I am revisiting this topic and trying to work out if there is any benefit > to it. > > 1. My period runs 6/4/ to 5/4/ so on a calander basis therefore I > believe I should be choosing relative for period start and period end. > > 2. I currently have access to all my transactions which is very useful. If > I understand the process correctly to maintain access to these transactions > I need to create separate files for each year prior to doing the period > close. So for future searches I would need to work through several files. > > 3. If I have set the accounting periods and I have control over the date > ranges in other reports I am not clear as to what advantage I gain by > closing prior periods. When I used Quicken if I remember correctly closing > a period was part of the reconciliation process. However, transactions were > not zeroed as far as I remember and so that could still be viewed. > > Any advice / comment would be welcomed. > > -- > Mike Stillingfleet > mikestillingfl...@fastmail.co.uk > ___ > gnucash-user mailing list > gnucash-user@gnucash.org > To update your subscription preferences or to unsubscribe: > https://lists.gnucash.org/mailman/listinfo/gnucash-user > If you are using Nabble or Gmane, please see > https://wiki.gnucash.org/wiki/Mailing_Lists for more information. > - > Please remember to CC this list on all your replies. > You can do this by using Reply-To-List or Reply-All. > ___ gnucash-user mailing list gnucash-user@gnucash.org To update your subscription preferences or to unsubscribe: https://lists.gnucash.org/mailman/listinfo/gnucash-user If you are using Nabble or Gmane, please see https://wiki.gnucash.org/wiki/Mailing_Lists for more information. - Please remember to CC this list on all your replies. You can do this by using Reply-To-List or Reply-All. ___ gnucash-user mailing list gnucash-user@gnucash.org To update your subscription preferences or to unsubscribe: https://lists.gnucash.org/mailman/listinfo/gnucash-user If you are using Nabble or Gmane, please see https://wiki.gnucash.org/wiki/Mailing_Lists for more information. - Please remember to CC this list on all your replies. You can do this by using Reply-To-List or Reply-All.
Re: [GNC] Period Ends
2) all your data goes in one file KISS Period ends are for security so that entries can not be posted to once period end processes are complete. For example in public accounting we close off year end files once our year end work is complete. All statements match bank account and. credit cards there the file is complete Another reason for year end close is so someone doesn't go back and make changes to work we already concluded is complete. On Fri., Jan. 7, 2022, 01:41 Mike Stillingfleet, < mikestillingfl...@fastmail.co.uk> wrote: > Dear All, > > Several years ago I attempted to close off at end of year and it didn't > end well. > > I am revisiting this topic and trying to work out if there is any benefit > to it. > > 1. My period runs 6/4/ to 5/4/ so on a calander basis therefore I > believe I should be choosing relative for period start and period end. > > 2. I currently have access to all my transactions which is very useful. If > I understand the process correctly to maintain access to these transactions > I need to create separate files for each year prior to doing the period > close. So for future searches I would need to work through several files. > > 3. If I have set the accounting periods and I have control over the date > ranges in other reports I am not clear as to what advantage I gain by > closing prior periods. When I used Quicken if I remember correctly closing > a period was part of the reconciliation process. However, transactions were > not zeroed as far as I remember and so that could still be viewed. > > Any advice / comment would be welcomed. > > -- > Mike Stillingfleet > mikestillingfl...@fastmail.co.uk > ___ > gnucash-user mailing list > gnucash-user@gnucash.org > To update your subscription preferences or to unsubscribe: > https://lists.gnucash.org/mailman/listinfo/gnucash-user > If you are using Nabble or Gmane, please see > https://wiki.gnucash.org/wiki/Mailing_Lists for more information. > - > Please remember to CC this list on all your replies. > You can do this by using Reply-To-List or Reply-All. > ___ gnucash-user mailing list gnucash-user@gnucash.org To update your subscription preferences or to unsubscribe: https://lists.gnucash.org/mailman/listinfo/gnucash-user If you are using Nabble or Gmane, please see https://wiki.gnucash.org/wiki/Mailing_Lists for more information. - Please remember to CC this list on all your replies. You can do this by using Reply-To-List or Reply-All.
Re: [GNC] Period Ends
Hi Alan, Thank you I will look this up. Regards Mike On Fri, Jan 7, 2022, at 10:21 AM, Alan A Holmes wrote: > Mike, > > If you look back in the archive a few days you will see a discussion title > "Closing Books - Pros & Cons", where this has recently been discussed. > > > Alan A Holmes > > -Original Message- > From: gnucash-user > On Behalf Of > Mike Stillingfleet > Sent: 07 January 2022 09:40 > To: gnucash-user@gnucash.org > Subject: [GNC] Period Ends > > Dear All, > > Several years ago I attempted to close off at end of year and it didn't end > well. > > I am revisiting this topic and trying to work out if there is any benefit to > it. > > 1. My period runs 6/4/ to 5/4/ so on a calander basis therefore I > believe I should be choosing relative for period start and period end. > > 2. I currently have access to all my transactions which is very useful. If I > understand the process correctly to maintain access to these transactions I > need to create separate files for each year prior to doing the period close. > So for future searches I would need to work through several files. > > 3. If I have set the accounting periods and I have control over the date > ranges in other reports I am not clear as to what advantage I gain by > closing prior periods. When I used Quicken if I remember correctly closing a > period was part of the reconciliation process. However, transactions were > not zeroed as far as I remember and so that could still be viewed. > > Any advice / comment would be welcomed. > > -- > Mike Stillingfleet > mikestillingfl...@fastmail.co.uk > ___ > gnucash-user mailing list > gnucash-user@gnucash.org > To update your subscription preferences or to unsubscribe: > https://lists.gnucash.org/mailman/listinfo/gnucash-user > If you are using Nabble or Gmane, please see > https://wiki.gnucash.org/wiki/Mailing_Lists for more information. > - > Please remember to CC this list on all your replies. > You can do this by using Reply-To-List or Reply-All. -- Mike Stillingfleet mikestillingfl...@fastmail.co.uk ___ gnucash-user mailing list gnucash-user@gnucash.org To update your subscription preferences or to unsubscribe: https://lists.gnucash.org/mailman/listinfo/gnucash-user If you are using Nabble or Gmane, please see https://wiki.gnucash.org/wiki/Mailing_Lists for more information. - Please remember to CC this list on all your replies. You can do this by using Reply-To-List or Reply-All.
Re: [GNC] Period Ends
Hi Geoff, Thank you very much this is exactly what I needed to know. I am currently assuming that I can close off prior years and bring everything up to date year by year. Regards Mike On Fri, Jan 7, 2022, at 10:16 AM, Geoff wrote: > Hi Mike > > Answers embedded:- > > > 1. My period runs 6/4/ to 5/4/ so on a calander basis > therefore I believe I should be choosing relative for period start and > period end. > - Correct. > > > 2. I currently have access to all my transactions which is very > useful. If I understand the process correctly to maintain access to > these transactions I need to create separate files for each year prior > to doing the period close. So for future searches I would need to work > through several files. > - Nope. The Close Books process retains *all* your existing transactions. > It also generates two additional transactions - one that offsets the > balances in all your expense accounts, and one that offsets the balances > in your income accounts. The contra account for those transactions goes > to the account(s) that you nominate - usually under Equity. > > > 3. If I have set the accounting periods and I have control over the > date ranges in other reports I am not clear as to what advantage I gain > by closing prior periods. When I used Quicken if I remember correctly > closing a period was part of the reconciliation process. However, > transactions were not zeroed as far as I remember and so that could > still be viewed. > - Moot point. Some on this forum are in favour, and some are against. > The good news is that you can try it out and see if it suits you. The > Close Books process is completely safe and fully reversible - merely > delete the two transactions I mentioned above and you are back at square > one. > > Hope this helps. > > Regards > > Geoff > = > > > On 7/01/2022 8:40 pm, Mike Stillingfleet wrote: >> Dear All, >> >> Several years ago I attempted to close off at end of year and it didn't end >> well. >> >> I am revisiting this topic and trying to work out if there is any benefit to >> it. >> >> 1. My period runs 6/4/ to 5/4/ so on a calander basis therefore I >> believe I should be choosing relative for period start and period end. >> >> 2. I currently have access to all my transactions which is very useful. If I >> understand the process correctly to maintain access to these transactions I >> need to create separate files for each year prior to doing the period close. >> So for future searches I would need to work through several files. >> >> 3. If I have set the accounting periods and I have control over the date >> ranges in other reports I am not clear as to what advantage I gain by >> closing prior periods. When I used Quicken if I remember correctly closing a >> period was part of the reconciliation process. However, transactions were >> not zeroed as far as I remember and so that could still be viewed. >> >> Any advice / comment would be welcomed. >> -- Mike Stillingfleet mikestillingfl...@fastmail.co.uk ___ gnucash-user mailing list gnucash-user@gnucash.org To update your subscription preferences or to unsubscribe: https://lists.gnucash.org/mailman/listinfo/gnucash-user If you are using Nabble or Gmane, please see https://wiki.gnucash.org/wiki/Mailing_Lists for more information. - Please remember to CC this list on all your replies. You can do this by using Reply-To-List or Reply-All.
Re: [GNC] Period Ends
Mike, If you look back in the archive a few days you will see a discussion title "Closing Books - Pros & Cons", where this has recently been discussed. Alan A Holmes -Original Message- From: gnucash-user On Behalf Of Mike Stillingfleet Sent: 07 January 2022 09:40 To: gnucash-user@gnucash.org Subject: [GNC] Period Ends Dear All, Several years ago I attempted to close off at end of year and it didn't end well. I am revisiting this topic and trying to work out if there is any benefit to it. 1. My period runs 6/4/ to 5/4/ so on a calander basis therefore I believe I should be choosing relative for period start and period end. 2. I currently have access to all my transactions which is very useful. If I understand the process correctly to maintain access to these transactions I need to create separate files for each year prior to doing the period close. So for future searches I would need to work through several files. 3. If I have set the accounting periods and I have control over the date ranges in other reports I am not clear as to what advantage I gain by closing prior periods. When I used Quicken if I remember correctly closing a period was part of the reconciliation process. However, transactions were not zeroed as far as I remember and so that could still be viewed. Any advice / comment would be welcomed. -- Mike Stillingfleet mikestillingfl...@fastmail.co.uk ___ gnucash-user mailing list gnucash-user@gnucash.org To update your subscription preferences or to unsubscribe: https://lists.gnucash.org/mailman/listinfo/gnucash-user If you are using Nabble or Gmane, please see https://wiki.gnucash.org/wiki/Mailing_Lists for more information. - Please remember to CC this list on all your replies. You can do this by using Reply-To-List or Reply-All. ___ gnucash-user mailing list gnucash-user@gnucash.org To update your subscription preferences or to unsubscribe: https://lists.gnucash.org/mailman/listinfo/gnucash-user If you are using Nabble or Gmane, please see https://wiki.gnucash.org/wiki/Mailing_Lists for more information. - Please remember to CC this list on all your replies. You can do this by using Reply-To-List or Reply-All.
Re: [GNC] Period Ends
Hi Mike Answers embedded:- > 1. My period runs 6/4/ to 5/4/ so on a calander basis therefore I believe I should be choosing relative for period start and period end. - Correct. > 2. I currently have access to all my transactions which is very useful. If I understand the process correctly to maintain access to these transactions I need to create separate files for each year prior to doing the period close. So for future searches I would need to work through several files. - Nope. The Close Books process retains *all* your existing transactions. It also generates two additional transactions - one that offsets the balances in all your expense accounts, and one that offsets the balances in your income accounts. The contra account for those transactions goes to the account(s) that you nominate - usually under Equity. > 3. If I have set the accounting periods and I have control over the date ranges in other reports I am not clear as to what advantage I gain by closing prior periods. When I used Quicken if I remember correctly closing a period was part of the reconciliation process. However, transactions were not zeroed as far as I remember and so that could still be viewed. - Moot point. Some on this forum are in favour, and some are against. The good news is that you can try it out and see if it suits you. The Close Books process is completely safe and fully reversible - merely delete the two transactions I mentioned above and you are back at square one. Hope this helps. Regards Geoff = On 7/01/2022 8:40 pm, Mike Stillingfleet wrote: Dear All, Several years ago I attempted to close off at end of year and it didn't end well. I am revisiting this topic and trying to work out if there is any benefit to it. 1. My period runs 6/4/ to 5/4/ so on a calander basis therefore I believe I should be choosing relative for period start and period end. 2. I currently have access to all my transactions which is very useful. If I understand the process correctly to maintain access to these transactions I need to create separate files for each year prior to doing the period close. So for future searches I would need to work through several files. 3. If I have set the accounting periods and I have control over the date ranges in other reports I am not clear as to what advantage I gain by closing prior periods. When I used Quicken if I remember correctly closing a period was part of the reconciliation process. However, transactions were not zeroed as far as I remember and so that could still be viewed. Any advice / comment would be welcomed. ___ gnucash-user mailing list gnucash-user@gnucash.org To update your subscription preferences or to unsubscribe: https://lists.gnucash.org/mailman/listinfo/gnucash-user If you are using Nabble or Gmane, please see https://wiki.gnucash.org/wiki/Mailing_Lists for more information. - Please remember to CC this list on all your replies. You can do this by using Reply-To-List or Reply-All.
