I ran the year end utility, and all my income and expense accounts have a 0 dollar balance. What happened?


When you run the year end utility, all income and expense accounts at the start of a new fiscal year reset to a 0 dollar balance.

This is because income and expense accounts just track the the incoming and outgoing money for just the current fiscal year.

This is what makes it possible to record budgets for these types of accounts, because they revert back to 0 at the start of each fiscal year.

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