Gil121438 Posted June 28, 2018 Share Posted June 28, 2018 I just purchased "express accounts" and need to know how you close the books at the end of the year and open the accounts for the new year Gil121438 Link to comment Share on other sites More sharing options...
diquijada Posted January 5, 2019 Share Posted January 5, 2019 I have the same question, can someone reply please and thank you. Link to comment Share on other sites More sharing options...
Wayne McNeil Posted January 26, 2020 Share Posted January 26, 2020 On 6/27/2018 at 9:58 PM, Gil121438 said: I just purchased "express accounts" and need to know how you close the books at the end of the year and open the accounts for the new year Gil121438 I think before you can close of any account for year end it should be done through a general journal transaction. Expense accounts will be required a credit amount and then apply the dr amount to balance it to where ever it needs to go. Link to comment Share on other sites More sharing options...
JaxonBainton Posted September 26, 2022 Share Posted September 26, 2022 (edited) I'm not sure why you do it, but I know that everyone should do something unique at the end of their years. It makes them feel special and different from other people. I've had a few ideas over the years, some successful and some not so much, eg. I got Book Writing Services on the internet that give me best results. For instance, I would like to make a big list of all my accomplishments in life and then write down every single person who helped me achieve these things. Then I would go through each one and thank them personally for their contribution. Edited September 26, 2022 by JaxonBainton Link to comment Share on other sites More sharing options...
n1x1 Posted November 24, 2022 Share Posted November 24, 2022 Hi @Gil121438 Express Accounts runs on a rolling year. That is to say, there is no function in which to end or close a financial year at its conclusion. Unlike some other accounting software products, Express Accounts does not work on current year earnings and retained earnings basis, but rather the retained earnings account is an ongoing account that records any money earned or lost during previous financial years in addition to current year earnings. This means that the retained earnings account in Express Accounts is a record of all the money to date that the company has earned. Link to comment Share on other sites More sharing options...
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