On 12/24/2018 3:45 PM, Colin Law wrote:
I don't do this, for me there is no point. It is possible to view or report on only transactions within a date range if one wants so I don't see the advantage of closing the books. If you do then you loose easy access to the history, so for example when the dishwasher fails and you think when and where did I buy that then you cannot immediately find out. I now have 18 years of personal accounts history immediately accessible.
Misunderstanding of what "close the books" does?
It doesn't existing transactions in the "temporary" income and expense accounts.
Assuming that it is implemented approximating the traditional process, it enters a giant split transaction that closes (brings the balance to zero) for all of these accounts with whatever is necessary going to equity as the gain or loss for the period. In the old days, that was by moving through another temporary account called "profit and loss" (all the income and expense accounts closed to this account) which was then closed to equity by the gain or loss amount.
Since gnucash can produce the report without this step (the "profit and loss" account served as the report back then) there is no need to close the books.
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.
