On Wed, 17 May 2000, Christopher Browne wrote:
> --> It may then be valuable to, after some period of time, have the "rolled
> up" transactions folded together, and the income side removed from
> the income (and expense) accounts, netted against Retained Earnings.
>
> _Usually_, I'd expect the short term accounts (banks, cash, accounts
> receivable, accounts payable, ...) to get rolled up once in a while;
> long term stuff like mortgages and fixed assets wouldn't get messed
> around with as often, if ever.
>From the accounting perspective, transactions MUST be "rolled up"
periodically. THat is what you do when you close an accounting period.
However, for reporting and analysis, it is often desirable to be able to
extract selected entries from previously closed accounts.
This creates a slight problem when we wish to maintain a system which has
conflicting goals. Do we keep open accounts in the same database with closed
accounts?
