i am approaching my Limited Company Year End so could you please explain exactly what happens within Solar Accounts when i select 'Start a New Finanacial Year' within the Menu option?
Will it reset Invoice, Purchase Order numbers etc to zero again?
Will it 'close out' previous year transactions?
Regards
When you 'Start a new Financial Year' you will create a new transaction which resets all the income and expense accounts to zero and increases the Retained Earnings account. You can see this new transaction in the Transactions list. That's all it does - you can always edit transactions from the prior year and the transaction ID sequences continue without change.
Regards,
