Bill Gribble wrote:
>
> Matthew Vanecek <[EMAIL PROTECTED]> writes:
> > What's the proper way in gnucash to zero account balances? Like at
> > end-of-year, when you want to start over gross income at zero, and
> > income/expense categories...
>
> >From the accounting perspective, the right thing to do is to have an
> account of type 'Equity' called "retained earnings" or something like
> that. At the end of the accounting period, you make a transaction
> which transfers the balance of each income/expense account to
> "retained earnings".
>
> This is suboptimal because ATM gnucash will generate reports that
> include the closing entries as expenses and/or income. That's not
> right. We are discussing how to do this correctly in an intermittent
> thread that pops up every so often :)
>
> Bill Gribble
Could this be one of those threads? =) Seems there ought to be a fairly
simple way to do that. Couldn't this be done, perhaps, via the
"Reconcile" mechanism, where there is a radio button to the effect of
"Zero this account for end-of-period", which performs the above
transfer, and all reports conveniently ignore that transfer type (except
for certain end-of-period reports, of course, and others as needed...).
Just a thought--I'm not really an accounting-type person...
--
Matthew Vanecek
Visit my Website at http://mysite.directlink.net/linuxguy
For answers type: perl -e 'print
$i=pack(c5,(41*2),sqrt(7056),(unpack(c,H)-2),oct(115),10);'
*****************************************************************
For 93 million miles, there is nothing between the sun and my shadow
except me. I'm always getting in the way of something...
--
Gnucash Developer's List
To unsubscribe send empty email to: [EMAIL PROTECTED]
