> On 01/30/2024 9:39 AM PST Michael or Penny Novack > <stepbystepf...@comcast.net> wrote: > > ONE refers to closing all the accounts of type income and expense > (temporary accounts of fundamental type equity) into equity itself or > accounts under equity. You will have to be doing the latter if the > entity type isn't "sole" (personal books or a sole proprietorship) > because need to allocate to the individual partners or shareholders. > Just closing the accounts of type income and expense WILL start the new > year off with these at zero.
There are those who love the "Income Summary" account, and then there are those who would rather forget about it. _______________________________________________ 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.
