On 2024-12-21 18:54, R Losey wrote: > However, some people enjoy zeroing Income and Expenses each year to Equity > (I learned about it last year, and tried it, and I really like the benefits > I get from it). For me, I created a FYnnnn account under Equity, and then > and an "yyyyIncome" and "yyyyExpense" sub-accounts under the > FYnnnn account. All expenses have their balances as of 31 Dec transferred > to the "nnnnExpense" account and all the income accounts have their balance > as of 31 Dec transferred to "nnnnIncome". > > [As people here have pointed out, the only small drawback is that you > generally don't want to have income/expenses on 31 Dec - so that when > reports are run, the end of December (or the end of the year) should be set > to 30 Dec. If you use 31 Dec, it will include the equity transfer, and the > numbers reported will be zero. But I can live with the workaround.]
This is an interesting idea. I do close the books on Dec 31 (well, _as_of_ Dec 31 but entered a couple of days after), because I like seeing how overall ordinary net income or loss, plus one-shot items like a house sale or HVAC replacement, affected equity. But I never thought of turning Equity into a placeholder parent with FYnnnn children. Can you say a bit more about the purpose of the yyyyIncome and yyyyExpense sub-sub accounts? If you close the books, won't there be just one transaction a year in each of those? Or do you close the books manually, entering one transaction per income or expense account, as opposed to using the GC menu item Tools » Close Book? That would let you control the order of entries, unlike the GC menu "Close Book". Stan Brown Tehachapi, CA, USA https://BrownMath.com/ _______________________________________________ gnucash-user mailing list [email protected] To update your subscription preferences or to unsubscribe: https://lists.gnucash.org/mailman/listinfo/gnucash-user ----- Please remember to CC this list on all your replies. You can do this by using Reply-To-List or Reply-All.
