Can you make backups by year?
There’s no way to do that. You can either:
- Provide them with all the reports they require individually.
Or:
- Give them the entire backup
Without the ability to save by year is there a way to make a template of my settings and details at the start of a business before any transactions are entered and just create a new business each year? I think i could do it by just making a backup after entering the details and settings but have not tried it. I know i know that’s not what I’m suppose to do and everyone tells you not to. But this way you could have a backup for each year and only 1 year at a time.
That’s one way of doing it but you will also have to set your starting balances each year.
Yes starting balances and transfer every unpaid sales invoice. The starting balances seems easy enough as i think it will only be sales tax under liabilities. I don’t use the program for my bank account, or any other asset. I have the bank there to make manager work right and it just collects the total profit. I have yet to find a way to make manager understand my bank fees and auto apply them so i just don’t mess with it. Other then that i think it would be a work around unless someone see’s something i am missing?
It feels like the ability to save things 1 year at a time or by specific dates would be a obvious thing to have?
Annual backups are a non-starter for a perpetual accounting system like Manager. Backups are just copies of the data file, which can only be read by the Manager application. The IRS is unlikely to want to install Manager to read your file electronically. Plus, by the time you might be audited, Manager would likely have been updated several hundred times due to the rapid pace of development.
Also, if you read the IRS guidance about Form 4564, you will see that any form of condensed or extracted data file is not acceptable for submission.
What does that mean?
I don’t use that part and it would be no different then changing to a new software. I am fine with that.
unrelated to manager.
Unrelated to manager.
Unrelated to manager.
Ok
It means balances of asset, liability, and equity accounts would not be correct, because they are perpetual.
You don’t need to be. If you are asked to produce the backup, just produce it. It is up to the IRS what they do if your electronic file is not one they can read. Again, read the guidance on the IRS website.
Do you really think the IRS is updating their Manager software (if they even have it) hundreds of times per year? If they have some version installed, it is almost assuredly going to be out of date and unable to open your file. Then you are back to the situation where it is their problem.
No. You are making a mountain out of a molehill. You keep your backup and the last version of software you had installed. The regulations say nothing about maintaining software you no longer use.
Because it invalidates your entire line of inquiry. The guidelines furnished on the IRS website cover this situation explicitly.
No. A report generated by the software is definitely not permitted if your electronic backup file is requested. You must submit the entire, unedited, uncondensed, full copy of your backup. It’s all there in the online guidance.
I am closing this topic because it does not pertain to Manager, but to one jurisdiction’s universal regulations.