When a year is completed & a new financial year started are reconciled items in the cash, bank and similar accounts archived or are they carried into the new year.
If they are not archived one will have massive cash and bank accounts after a number of years.
I know that P&L accounts are brought back to zero when a new year is started. Are old entries in Asset and Liability accounts archived with just the opening balance or each account shown at the start of the new year or again are all the old entries carried forward?
Kind regards
Hi Jack,
Solar Accounts is designed to store all your transactions (including those from previous years) in one data file. The software does not 'archive' old transactions. You are correct that this will result in many transactions building up over the years. If you find that the number of transactions causes your computer to run slowly then you will need to create a new data file. You should find that you can handle at least 20,000 transactions without the software slowing down.
Regards,
I would like to close off 2011 and start a new data file for 2012. How do I copy the data across? I have tried to do 'save as' but that option is not given for the file I want to copy.
I am using Solar for Charity accounts and am not a qualified bookeeper - just trying to do my best and use my common sense!
Alternatively how do I "tell" the system to start again at 1st January 2012?
Hi Susannah,
Solar Accounts is designed to store all your data in one file, not separate files for each year. Once you have entered all your transactions for 2011 click menu Setup > Financial Year > Start a new financial year. This will reset the balance of the income and expense accounts to zero.
Regards,
At the risk of becoming a pain in the butt about this - any further thoughts on archiving?
It just that I maintain one retailer client's books which have a very large number of transactions - i.e. daily takings, cash account, two bank accounts, purchase invoices etc.
Hi Jack,
To be honest this is not likely to be something we tackle in the near term. Can you tell me why are a large number of transactions is causing a problem?
Thanks
