Storing End Of Year Balances

At this stage we assume that you have already created a new DataFile for the new year and you are now ready to delete last years transactions.

To save time, instead of re-entering all opening balances from scratch, you can save them and reload them for the new year.

This can be achieved by:

  • Saving all balance snapshots from the previous year
  • Deleting all transactions
  • Loading the closing balances from last year instead of re-entering them manually

Open A New Invoice

  • Open the 'Invoice' module and click 'New' to create a new invoice.
Open A New Invoice

Saving all the account balances

  • Within the new invoice, click the 'Adjustments' button.
Saving all the account balances

Saving all balances

  • Click the 'Store Balances' button at the bottom of the 'Adjustments' window.
Saving all balances

Save The Balances

  • Label the balances with a name you can easily remember.
    Since these balances are End of Year 2015 balances, you can label them EOY-2015.  
    **If you forget the label, you can not reload the balances later so it is recommended that you write it down.
  • Hit 'OK'.
Save The Balances

Important Alert

  • You will receive an alert about saving this invoice. If you don't save the invoices, the balances won't be stored.
  • Hit 'OK'.
Important Alert
  • At this point no adjustments were made so even after you apply the adjustment (next step) the invoice looks completely empty. However, the snapshots of the account balances are stored in a storage area that is not visitble in the invoice. It is important to remember to save the invoice after applying the adjustments.
  • Click 'Apply Adjustments'.

Save The Invoice

  • Since the invoice is empty, it cannot be saved. Enter text next to 'Printable Notes', so you are able to save the invoice.
  • Hit 'Save'.
Save The Invoice

Delete Last Year's Transactions

  • Click the 'Support' tab from the menu bar then hit 'Delete all Transactions'.
Delete Last Year's Transactions

**Be sure NOT to delete the customers and/or ledgers and sub-ledgers. Everything else can be deleted.

  • Check off all transactions EXCEPT do NOT check off 'Customers' NOR 'All Ledger and Sub ledger Accounts'.
  • Click 'Delete'.
  • You will receive a warning alert, click 'Ignore and Continue'.

Create A New Invoice

  • Now it's time to create a new Invoice and reload the End of Year balances.
  • Open the 'Invoice' module and click 'New' to create a new invoice.
Create A New Invoice
  • Click the 'Adjustments' button in the new invoice.
  • This time click the 'Load Balances' button from the 'Adjustments' window.
  • Remember to use the label you used to save the end-of-year snapshot (e.g. EOY-2015).
  • Then hit 'OK'.
  • All balances should reload magically. Now you click the "Apply Adjustments".

Back to the invoice page and all accounts shall have their balances loaded into them. If you don't see all accounts loading up, you should click a few times in the invoice lines area (on the empty lines).

Deleting extra lines.

Deleting extra lines.

You should  delete all the lines that include Expenses,  Income and Opening Balance accounts as these accounts shall not be transferred over to the new year.

Balance the Invoice

Balance the Invoice

Once you have deleted the extra lines from the invoice, you should balance out the invoice using the Opening balance and save it.

Invoice Balanced!

Invoice Balanced!

Change the default data range in the Server Preferences.

Change the default data range in the Server Preferences.

Save the Preferences.

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