On 12/25/18 10:53 AM, John Ralls wrote:
On Dec 25, 2018, at 9:08 AM, Michael or Penny Novack
<[email protected]> wrote:
On 12/25/2018 4:45 AM, Colin Law wrote:
You could be right though, perhaps the Close
Books feature built into the s/w does what she wants.
Colin
Because I don't use it, I don't know what gnucash's "close the books" actually
does BUT what I described (entering a giant split transaction that zeroed out all the
income and expense accounts into equity with the entry in equity being the net gain or
loss) is what the MANUAL process would be. Doing it manually (with one or two* giant
splits) would be a PITA.
Michael D Novack
* so split just one one side, two way splits are their own PITA
That’s pretty much what the GnuCash close books function does. IIRC it’s two
transactions, one for income accounts and one for expense accounts.
Regards,
John Ralls
Correct. I've used it solely to book those two transactions to an
annual (new one yearly) "retained earnings" account.
--
Stephen M Butler, PMP, PSM
[email protected]
[email protected]
253-350-0166
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