I have been asked to look at a potential clients Quickfile account and I have not used Quickfile before. It has never been used to its full potential, only really for creating invoices and has had the odd purchase invoice posted.
They now wish to utilise the software properly and my question is: Is it possible to close down the previous year as it currently stands (where the system wasn’t used fully) and start afresh for their new accounting year which started in April 2014. Will I need to pay off all of the old purchase invoices so they don’t get brought forward and receipt in payments against all of the invoices? Can I set up a dummy cash bank account to deal with this?