Start a New Financial Year—Closed Transactions and Other Entries window

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Start a New Financial Year—Closed Transactions and Other Entries window

In this step of the Start a New Financial Year process, you need to select whether you want to keep closed transactions and other entries, such as reminder logs, from prior financial years.You can also select an option to to keep paycheque information from prior years.

caution :

Keeping transactions and other entries from prior financial years can reduce your system’s performance. An alternative to selecting this option is to restore a backup of your company file when you want to view transactions from a prior financial year.

Field Descriptions

Keep Closed Transactions from Prior Financial Years

If you want to keep closed transactions from prior financial years, select this option, and then select the financial year from when you want to keep the information.

For example, if you’re closing the 2008 financial year, and you want to retain all closed transactions made in that year, select FY 2008.

Keep Paycheques from Prior Financial Years

If you want to keep paycheques from prior financial years, select this option, and then select the financial year from when you want to keep the information.

For example, if you’re closing the 2007 financial year, and you want to retain all paycheques recorded in that year, select FY 2007.

Cancel

If you don’t want to start a new financial year, click Cancel.

Continue

If you want to continue with the process of starting a new financial year, click Continue.

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Starting a new fiscal year

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Starting a new fiscal year

Task 1: Complete month-end tasks Task 2: Perform an inventory count Task 3: Provide information to your accountant Task 4: Enter end-of-year adjustments Task 5: Back up your company file Task 6: Start a new fiscal year Task 7: Optimize and verify your company file

Starting a new payroll year

Task 1: Process the last paycheques for the year Task 2: Print year-end payroll forms Task 3: Print payroll reports Task 4: Back up your company file Task 5: Start a new payroll year Task 6: Check that you have the latest tax tables Task 7: Optimize and verify your company file

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