Hi Adrien,
I just joined this list with the same question. Great timing! I like
your suggestion. It seems easier than starting a completely new file,
importing the accounts tree, and entering any starting balances left
over from the previous year.
It took me a bit of time to figure out how to add a column to the chart
of accounts. I found the answer in chapter 10 of the gnucash-guide.pdf,
in case anyone else is looking. There's a little down arrow on the top
right corner of the accounts window that gives more display options.
Adding my thanks!
~Matthew
On 3/20/19 6:36 AM, garage cowboy wrote:
Thanks for the reply - and the helpful tips.
regards,
ALT
On Tue, Mar 19, 2019 at 10:42 PM Adrien Monteleone <
adrien.montele...@lusfiber.net> wrote:
Welcome to GnuCash!
There is a ‘close books’ procedure you can use that zeros expenses and
income to equity as ‘retained earnings/losses’ but you don’t have to use
it. GnuCash does not require that you clear anything out at the end of the
year. (and doing so can impact your ability to run reports in some cases)
There are people with 10+ years of data in very large files (with lots of
stock tracking) and other than some slow loading times, there aren’t any
major issues. (there are work arounds for the slow loading - somewhat)
Some people do a close books and open a new file each year. But that
process requires archiving reports and the data files. It also means you
can’t run reports for multiple years without external help (like from a
spread sheet) or you can’t run reports that cross yearly boundaries. (say
from 4Q18 to 1Q19) And if you want to look at prior year(s) data, you have
to open each of those files separately.
The Chart of Accounts tab has an available column for totals that show all
data in the entire book. (running totals from when you started using
GnuCash) It also has a column you can make visible for totals just for this
accounting period. (year) That way you can have an ‘at a glance’ view of
your accounts without running Income Statements or Balance Sheets. (but
those are available of course if you need them) The Summary Bar also shows
current net worth and retained earnings/losses.
My personal workflow is to not use the close books procedure, make the
current period totals visible on the Accounts tab, as well as keep open a
YTD P&L, and a monthly P&L for last month and this month. I run Balance
Sheets as needed. I also never close GnuCash except for upgrades. Thus I
don’t experience the data file loading but a few times a year. And it is
still relatively painless. (special note - loading is significantly slower
if you leave reports open when closing the app. They will be loading on
re-opening the program which takes some time)
As for reconciled transactions, they don’t ‘go away.’ But you can filter
your register views if you don’t want to see them. (or any transaction
before a certain date, say in the previous year)
Regards,
Adrien
On Mar 19, 2019, at 5:36 AM, garage cowboy <garagecowboy3...@gmail.com>
wrote:
Hi - I am a new gnucash user ( just a few weeks).
First of all, congratulations and thanks to all those who have
contributed
to this great product.
My question is about EOFY processes - I am used to products which have
an end of year rollover process which clears reconciled transactions -
is
there equivalent function in gnucash? What is the recommended approach?
am wondering what will happen in a few years when there are thousand of
transactions in the xml file.
Also interested in contributing to the cause but not a developer.
regards,
GC
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