Asset & Liability are not normally 'closed' in any case.
The purpose of 'closing' Income/Expense was because those were special cases of Equity, existing for the purpose of Income/P&L reporting at the end of the period. 'Closing' them merely facilitated resetting their balance to zero for the next period's reporting.
You don't do that with Assets & Liabilities. They remain on the Balance sheet until sold or discharged.
Regards, Adrien On 1/19/26 3:02 PM, R Losey wrote:
True, Stan. I do have it set for current year, and that does work for income/expense... but not for categories under Assets or Liabilities.
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