Start a New Fiscal Year—Receipts & Payments to be Processed windowThis step in the Start a New Fiscal Year process enables you to specify whether certain types of receipts and payments should be kept.If you use the undeposited funds feature, select this option. This will ensure that any undeposited receipts do not get purged.Keep Unpaid Payroll Liabilities AccrualsIf you are using the Liabilities Accruals, select this option. This will ensure that any amounts accrued from your employees’ wages (deductions, employer expenses or payroll tax payments) do not get purged if they have not been paid yet.
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