New user here. I understand double-entry accounting pretty well, but I'm struggling to adapt that knowledge to GnuCash's take on double-entry accounting.
Why do we specify an accounting period? How is it used in GnuCash? I assumed it was related to closing the books, but section 8.9 in the help manual says we shouldn't close the books because GnuCash doesn't understand that the closing entries it generates are special, so it will think income and expenses in the period are all zero. (I'm accustomed to close the books monthly, with monthly income statement and end-of-month balance sheet -- that's when I would reconcile everything, though I understand GnuCash reconciliation is driven in a different way. I also want to get an annual income statement. I understand that if I don't close the books monthly I can still get an income state monthly by specifying dates. But in that case, why would I close the books at the end of the year? or ever? Or is there some benefit in GnuCash to closing the books that I'm missing?) -- Regards, Stan Brown Tompkins County, New York, USA http://BrownMath.com http://OakRoadSystems.com _______________________________________________ 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.
