Important:
Keeping entries from prior fiscal years increases the size of your company file and may impede system performance. You can, though, purge the data at any time using the Purge feature of MYOB AccountEdge.
During the Start a New Fiscal Year process, you will choose to keep or purge certain data from your company file.
If you choose to keep data from prior fiscal years, you will only be able to view -- not change -- the data. See How your company file is changed when you Start a New Fiscal Year to see a list of transaction and entry types and how they are affected during the Start a New Fiscal Year process.
You can continue to keep one type of data -- closed transactions -- for up to seven years.
If you decide that you would like to keep data during the Start a New Fiscal Year process, but decide at a later time that you want to purge the entries, you can do so using the MYOB AccountEdge Purge command. You'll find the Purge command in the File menu of all command centers except the Banking Command Center. (Purging information that's no longer needed)