I am not very familiar to accounts and I started to use manager for our own business. I have a question. For every FY, Do I need to create a new business file copy and continue the entries for the new FY? or I can just use only one business file copy and continue the entries for all FY. If I need to use only one business copy then is there any closing or cut-off process that I should run at the end of each FY.
Kindly advise. Thanks.