I am using cloud version of Manager IO,
To prevent data space, Please advise when should we closed the business and start the new.
To prevent data space, I am thinking of closing the business account at the financial year end and save it at Hard drive, and start the new business account.
is it the good idea?
No, that is completely unnecessary. Manager is a perpetual accounting system, with no need to close out at the end of year. Read the Guide about closing an accounting period. You will see that you only change the dates to be viewed and make necessary adjusting entries. You do not close the books.
By modern memory standards, even many years of accounting data will be a small file. You shouldn’t worry about this.
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thanks for advise
Every financial year, account to be closed and profit/loss to be transferred to capital account.
Though it is a perpetual accounting system, I think this provision should be made in new version update.
It will improve the rating of Manager accounting much more among users.
That isn’t going to happen, @grsamy. There is no need for it. You can already transfer retained earnings to capital accounts. Read the Guide: Manager Cloud.
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