On 2025-06-10 21:04, R Losey wrote:
> By the way, how do you deal with whole year reports? If you close the
> books on 31 Dec of a year, and do a 01 Jan - 31 Dec year, the Income and
> Expenses will be zero. I do my reports from 01 Jan - 30 Dec, which means
> that any transactions that occur on 31 Dec I change the date to 30 Dec.
> I got that idea from this group, but perhaps you have a better way.
In "Tools » Close Book", the dialog box asks me for a description, and
the tool puts my text in the Description field of the closing entries.
After "Reports » Income and Expense » Income Statement", a report option
on the Entries tab is "Closing Entries pattern". I enter the same thing
I entered when running "Tools » Close Book", and GC then ignores those
closing entries, so the report shows the actual total of each income or
expense account, rather than all zeroes. "Report » Income & Expense »
Profit & Loss" has the same option. (Why do we have an Income Statement
report and a Profit & Loss report, I wonder? Is it just to let people
choose the report title they're used to, without having to change the
title in Options? I didn't see any other difference between the two, but
I took only a quick glance and I could well have missed something.)
There's one wrinkle: Use Num to make sure the closing entry is last. For
instance, my bank credits interest on the last day of each month,
including December. I give that transaction (debit Savings Account,
credit Interest Income) a lower Num than the closing transaction.
If any "real" transaction, such as crediting interest earned, has a
higher Num than the closing transaction, the account register will show
a negative balance after the closing transaction and then return a zero
balance after the "real" transaction. That's not actually wrong -- it
doesn't interfere with the reports -- but I find it aesthetically
displeasing. :-)
--
Stan Brown
Tehachapi, CA, USA
https://BrownMath.com
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