Does Manager clear fiscal year-end income and expense amounts and move them to retained earnings? What is the step-by-step procedure for year-end? How do I clear out the old year and start the new year? Thanks

Tut, I am running the cloud version of Manager. When I click Customize there is no option to set Start Date. Can you please help on how to change the date range to reflect only the business from Jan 1st 2016?

The Customize link only allows you to enable or disable modules. The reporting time frame is set on the Summary page, at the top left. There is a button named Set Period.

Very dangerous to keep multi year data in one file akin to keeping all the eggs in one basket. Sadly , Manager doesn"t have year end closing. If wrongly input a transaction that belongs to last year accounts, god bless you, your accounts opening balance, etc all messed up.

[image] BrandyHeng: If wrongly input a transaction that belongs to last year accounts, god bless you, your accounts opening balance, etc all messed up Under Settings you will find a feature called “Lock Date”, by setting this you can prevent transactions be entered prior to the date you set.

why complicate matters with “lock date” function. It’s easier and efficient to keep separate database in separate folder for each financial year data.

It doesn’t complicate matters. MYOB, Quicken, QuickBooks, and many other popular accounting packages all work in similar ways. This provides the ability to review prior years data without the need to open separate files. What you suggest used to be practised around the turn of the century but rat…

@BrandyHeng , if everything is in separate databases, you cannot access previous period information. The perpetual nature of Manager is a huge convenience and work saver. Just reset the Summary period and create new desired reports. The lock date is not a complication, it is a convenience for users …

Very simple to look back at other financial year data. When you select to open company accounts , user will have an option to select from a drop down menu which financial year . Example FY2016 data stored in folder /sample company//FY2016 FY2015 data stored in folder / sample company/FY2015

[image] BrandyHeng: When you select to open company accounts , user will have an option to select from a drop down menu which financial year . Example FY2016 data stored in folder /sample company//FY2016FY2015 data stored in folder / sample company/FY2015 What if you want to generate comparat…

Unclear on Year-end procedures

Tut Split this topic September 16, 2022, 2:54pm 27

A post was split to a new topic: Effect of date selection

Topic		Replies	Views
How to complete a year end	8	1817	January 18, 2023
2017 Year End Procedures	6	1654	January 18, 2023
Carry forward to next year	7	2252	January 18, 2023
Closing the Financial Year & Reset Invoice Number	13	8833	January 18, 2023
Year end closure	8	1131	January 18, 2023

Unclear on Year-end procedures

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