[GNC] Balance sheet report period

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[GNC] Balance sheet report period

Rich Shepard
Looking in the Guide the only reference I see to 'balance sheet report' is a
brief description. When I prepare the report the only date option I see is
the ending date.

Is the start date that of the first entry in GnuCash? Can I produce a
balancve sheet account for only the year-to-date and exclude previous years?
Or does that violate accounting practices?

Rich
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Re: [GNC] Balance sheet report period

GnuCash - User mailing list
Rich,

Although it might not be fully clear, the Guide states that the Balance Sheet report "provides totals as of a given date."

Therefore, there is no starting date; it covers everything up to the date you provide. That is how it is designed and how it is meant to be.

Best,
David

On July 3, 2019, at 1:54 AM, Rich Shepard <[hidden email]> wrote:

Looking in the Guide the only reference I see to 'balance sheet report' is a
brief description. When I prepare the report the only date option I see is
the ending date.

Is the start date that of the first entry in GnuCash? Can I produce a
balancve sheet account for only the year-to-date and exclude previous years?
Or does that violate accounting practices?

Rich
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Re: [GNC] Balance sheet report period

Rich Shepard
On Wed, 3 Jul 2019, D wrote:

> Although it might not be fully clear, the Guide states that the Balance
> Sheet report "provides totals as of a given date."

David,

This is fully clear. I wanted to confirm that it meant the results include
everything for the past three years (since I switched back to GnuCash at the
beginning of 2017).

If that's how accounting works, so be it. I pay my accountant to do the
right things with the numbers I provide from GunCash.

Thanks,

Rich
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Re: [GNC] Balance sheet report period

GnuCash - User mailing list
Rich,

The balance sheet is a snapshot in time. It reflects the asset, liability and equity account balances as of the date you choose. Compare two or more balance sheets to see how those balances change over time (eg. month-end to month-end or year-end to year-end). Income and cash flow statements cover a period of time and should reflect the changes in the balance sheet accounts.

B.W.

Sent from my iPhone

> On Jul 3, 2019, at 08:47, Rich Shepard <[hidden email]> wrote:
>
>> On Wed, 3 Jul 2019, D wrote:
>>
>> Although it might not be fully clear, the Guide states that the Balance
>> Sheet report "provides totals as of a given date."
>
> David,
>
> This is fully clear. I wanted to confirm that it meant the results include
> everything for the past three years (since I switched back to GnuCash at the
> beginning of 2017).
>
> If that's how accounting works, so be it. I pay my accountant to do the
> right things with the numbers I provide from GunCash.
>
> Thanks,
>
> Rich
> _______________________________________________
> gnucash-user mailing list
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Re: [GNC] Balance sheet report period

Mike or Penny Novack-4
In reply to this post by Rich Shepard
On 7/2/2019 4:20 PM, Rich Shepard wrote:

> Looking in the Guide the only reference I see to 'balance sheet
> report' is a
> brief description. When I prepare the report the only date option I
> see is
> the ending date.
>
> Is the start date that of the first entry in GnuCash? Can I produce a
> balancve sheet account for only the year-to-date and exclude previous
> years?
> Or does that violate accounting practices?
>
> Rich

The Balance Sheet is a "snapshot" of the books as of a specific date,
not an interval. There is neither a start date nor an end date; just an
"as of" date. It includes explicitly all of the standing account
balances  (account types asset, liability, and equity). The accounts
types income and expense are not shown because they are actually
temporary accounts of fundamental type equity. Their NET will appear as
the unrealized gain or loss in the Balance Sheet.

Michael D Novack
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Re: [GNC] Balance sheet report period

Rich Shepard
In reply to this post by GnuCash - User mailing list
On Wed, 3 Jul 2019, [hidden email] wrote:

> The balance sheet is a snapshot in time. It reflects the asset, liability
> and equity account balances as of the date you choose. Compare two or more
> balance sheets to see how those balances change over time (eg. month-end
> to month-end or year-end to year-end). Income and cash flow statements
> cover a period of time and should reflect the changes in the balance sheet
> accounts.

Benny,

That makes sense. Since I'm not an accountant I did not recognize that it's
a snapshot and thought it represented an unspecified time range up to the
current (or otherwise selected) date.

Thanks for clarifying,

Rich
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Re: [GNC] Balance sheet report period

Christopher Lam
Or, you could download 3.6 and test the new experimental multi date balance
sheets :-)

On Wed., 3 Jul. 2019, 21:37 Rich Shepard, <[hidden email]> wrote:

> On Wed, 3 Jul 2019, [hidden email] wrote:
>
> > The balance sheet is a snapshot in time. It reflects the asset, liability
> > and equity account balances as of the date you choose. Compare two or
> more
> > balance sheets to see how those balances change over time (eg. month-end
> > to month-end or year-end to year-end). Income and cash flow statements
> > cover a period of time and should reflect the changes in the balance
> sheet
> > accounts.
>
> Benny,
>
> That makes sense. Since I'm not an accountant I did not recognize that it's
> a snapshot and thought it represented an unspecified time range up to the
> current (or otherwise selected) date.
>
> Thanks for clarifying,
>
> Rich
> _______________________________________________
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> To update your subscription preferences or to unsubscribe:
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> https://wiki.gnucash.org/wiki/Mailing_Lists for more information.
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Re: [GNC] Balance sheet report period

Mike or Penny Novack-4
On 7/3/2019 9:44 AM, Christopher Lam wrote:
> Or, you could download 3.6 and test the new experimental multi date balance
> sheets :-)
>
THAT, however, has nothing to do with this question. The "multi date
balance sheet" report ISN'T a balance sheet with multiple dates but a
report that shows multiple balance sheets each for some different date.

It is STANDARD for certain financial reports to show two balance sheet
reports in parallel. For example, a balance sheet at the start of an
interval (end of previous period) and at the end plus the Income
statement (aka P&L aka Revenue statement) for the interval. Following
advice of the accountants, I put this together OUTSIDE of gnucash using  
raw reports exported from gnucash. I suppose lots of folks here would
have preferred I had coded this << a retired software professional, I
could have >> but the accountants were right, I am ALWAYS having to do
some editing.

Michael D Novack
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Re: [GNC] Balance sheet report period

Rich Shepard
In reply to this post by Christopher Lam
On Wed, 3 Jul 2019, Christopher Lam wrote:

> Or, you could download 3.6 and test the new experimental multi date
> balance sheets :-)

Christopher,

My accountant has been happy with the information I've provided. My question
was my own, not hers.

I missed the announcement for 3.6. Just built and installed it in
Slackware-3.6.

Regards,

Rich

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