> My solution has been to have a separate ledger file for each tax year
> but that means transferring balances at the end of one year to create
> the new year's file which sometimes leads to issues should anything need
> to be updated in the previous year's records (missing entry, for
> instance).

Exactly, but you can work around that issue by using the include directive (see:
https://www.ledger-cli.org/3.0/doc/ledger3.html#Command-Directives).

For example, I have a script that writes out my year-end balances to the next 
year's
directory (I create subdirectories in my top-level directory for every year) 
with a
filename of "<organization>-opening-balances.ledger" (e.g.
"2021/business-opening-balances.ledger" and 
"2021/personal-opening-balances.ledger").
Then at the top of my "2021/business.ledger" and "2021/personal.ledger" files I 
just
"include business-opening-balances.ledger" or "personal-opening-balances.ledger"
respectively.

That allows me to go back and automatically overwrite those files to adjust my 
opening
balances at any time without having to edit any subsequent transaction.


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