View Full Version : End of Fiscal Year Activities
06-08-2004, 01:38 PM
My fiscal year ends June 30th and I want to begin a new year with a new file, but carry forward my account balances. Where do I get instructions for this process? Does anyone have any helpful hints for doing this?
I suscribe to the basic payroll service that provides tax updates. Can I still close out my fiscal year and begin a new one?
06-08-2004, 02:06 PM
I don't know if there is anything written about this but I have done it. You can set up a new co. and copy all your lists then enter as a journal entry all your ending balances. You'll have to reconcile year end bank accts. and enter outstanding checks into the new co. so the next month the bank rec works.
Next is your AP and AR. You'll need to enter each AP invoice and AR billing so you can apply payments and pay bills if you use these features.
It's not hard but planning ahead helps so you have the new file ready to go day 1.
Sharon will mean export your lists and import into the new company.
4luvofbus.com can provide assistance in transferring transactions from one file to another.
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