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 :)
My solution to this problem was to decree that no "real" transactions
got entered with a date of "1/7/2000" (that's 7/1/2000 for those of you
with backwards date formats :-)). Stuff that actually happened on that
day was entered with the date of the 2nd of July (with a note in the
description). When I do reports, I just have to remember to exclude the
1st of July from the report. Not entirely elegant, but it works.
Of course, what I should have done, was decree the 30/6 as the
adjustment date and force stuff from that day back one day. That way, I
wouldn't have to remember in 12 months time that I did it this way....
Conrad.
--
Conrad Canterford ([EMAIL PROTECTED])
Water Sprite Pty Ltd | [EMAIL PROTECTED]
GPO Box 355, | Incorporating:
Canberra, ACT, 2601 | Australian Tour and Event Management (ATEM)
Australia. | Ticketing Services Division
Phone: 0419 122 553 | Catering Services Division
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