I did mean checking/savings and credit card accounts. Thanks Since I use Gnucash for personal rather than business use, I don't "close" the books. However, if I wanted to archive 2023 and start fresh on Jan 1, 2024, I would enter any unreconciled transactions in those accounts in your A2b example because the beginning balances would include them.
On Sat, Jan 13, 2024 at 8:19 AM Adrien Monteleone < adrien.montele...@lusfiber.net> wrote: > *ALL accounts are 'credit and debit' accounts. But perhaps you mean > Checking & Credit Card accounts? (i.e., those held at a 3rd party > financial institution, since you are referencing 'reconciliation'.) > > Reconciliation is usually done prior to a Trial Balance as part of the > End of Year process and that not infrequently is done up to a month > (sometimes more) after the calendar date of the end of the period. It is > not uncommon to see P&L and Balance Sheet reports published in February > for periods ending December 31. > > Otherwise, correcting entries are employed. This is usually the case > with Accruals that cross period boundaries. You reverse the portion of > an amount that doesn't apply to the period being closed, and add it back > in the following period. (this also occurs for interim periods such as > months or quarters) > > Exactly what you do, depends on the requirements of your local > jurisdiction. > > > Regards, > Adrien > > On 1/13/24 8:03 AM, Phyllis Bruce wrote: > > Hmmmm, would you not also need to re-enter any unreconciled transactions > in > > your credit and debit accounts? > > _______________________________________________ > gnucash-user mailing list > gnucash-user@gnucash.org > To update your subscription preferences or to unsubscribe: > https://lists.gnucash.org/mailman/listinfo/gnucash-user > ----- > 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 ----- Please remember to CC this list on all your replies. You can do this by using Reply-To-List or Reply-All.
