I’ve been using QF very happily for over a year now. I’m aware that i can do things a little better as I now understand how things work a little better. Is there a way to reset all balances whilst retaining customer data and historical purchases and invoices.
Would this guide help you? Simplified year-end tool
Is that the sort of thing you’re trying to accomplish? or have I got the wrong end of the stick?
Please let me know if we can help further
If you want to retain your invoices then you would need to use some sort of journal to zero the balances. The simplified year end tool that @Beth suggests will move all your profit and loss balances into reserves on the balance sheet. This effectively resets your P&L and is typically done at the transition between accounting years.
Without removing the invoices you will always have a balance somewhere, the above methods will just move it elsewhere. You could create a new QuickFile account and just use the old account for archiving purposes, although if you need to generate financial reports from the existing account (i.e. for your year end) it would better to do that starting from the new accounting year.
If you have an accountant they should be able to advise you the best approach. We can only really give general advice on what the system can do.
This topic was automatically closed after 7 days. New replies are no longer allowed.