Start a New Fiscal Year
Receipts & Payments to be Processed window
The Start a New Fiscal Year windows allow you to complete the necessary steps to close the previous fiscal year and begin the next fiscal year. Eight windows guide you through the process of starting a new fiscal year.
This window is the first window if which you can indicate whether you want to exclude certain transactions from the Start a New Year process. We recommend that you mark each of these selections.
- Mark the Keep Receipts Grouped with Undeposited Funds selection if you want to keep transactions in your company file that you've indicated you want grouped with undeposited funds using the Group with Undeposited Funds feature.
- Mark the Keep Disbursements Grouped with Electronic Payments selection if you want to keep transactions in your company file that you've indicated you want grouped with electronic payments using the Group with Electronic Payments feature. (Whether the disbursements have been made or not yet made, the transactions won't be erased.)
- Mark the Keep Unpaid Payroll Liabilities Accruals selection if you want to keep transactions in your company file that include funds that have been accrued from your employees' wages for deduction, employer expense or payroll tax payments but have not yet been paid.
Note: When your fiscal year should be closed
Caution: Make a backup before closing the fiscal year