On 12/27/2018 7:31 PM, David Cousens wrote:
This was
why accountants introduced an artificial 13th month into the financial year
so that all closing transactions were forced to occur fater any other
transaction that occurred within the year. Any required adjustments to the
accounts are also usually carried out before the closing transactions for
the same reason.
Or increased the number of days in December past 31 or otherwise
provided for dates that were not fiscal dates for external transactions
<< that's what where I spent my working days did >> However that sort
of thing not so easy these days when using software that checks the
validity of dates and doesn't know about "special dates" . When it is
your own "date validity checker" written in house, more practical.
HOWEVER --- there ARE ways around this difficulty for those of us using
gnucash, WORK FLOW solutions. After the last external transaction, copy
the file to a name like "last external". Then do the internal
transactions that DO affect income expenses (like recording
depreciation) and again make a copy. Now you can do the "close"
transaction(s) and make a copy "post close". IF there are "adjustment"
transactions to be entered, do them and again make a copy you name for
the next year or simply copy "post close" to that.
Michael D Novack
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