[GNC] Starting new year

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[GNC] Starting new year

reb1932
Do you start a new year with a balance from the previous year or with o
balance.

Richard Barmann

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Re: [GNC] Starting new year

Derek Atkins-3
Hi,

On Wed, April 3, 2019 8:36 pm, Richard Barmann wrote:
> Do you start a new year with a balance from the previous year or with o
> balance.

None of the above.  I archive the data file and just continue using it.

> Richard Barmann

> Please remember to CC this list on all your replies.
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-derek

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Re: [GNC] Starting new year

Stephen M. Butler
On 4/4/19 12:16 AM, Derek Atkins wrote:

> Hi,
>
> On Wed, April 3, 2019 8:36 pm, Richard Barmann wrote:
>> Do you start a new year with a balance from the previous year or with o
>> balance.
> None of the above.  I archive the data file and just continue using it.
>
>> Richard Barmann
>
> -derek
>
Some of us go through a formal "close" that transfers all the
expense/income into the account of our choice (Retained Earnings for me).

However, that is not needed as GnC knows how to handle it since it knows
your fiscal year -- you did set that up?

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Re: [GNC] Starting new year

Christian Kluge
In reply to this post by reb1932
Am 04.04.2019 um 02:36 schrieb Richard Barmann:
> Do you start a new year with a balance from the previous year or with o
> balance.
>

If you’re creating a new empty file, you obviously should start with the
ending balance of the previous year.

If you continue to use the same file, then you obviously don’t need to
enter opening balances.

Kind regards

Christian Kluge

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