Just done year end, first time! Just a quick question the purchases are still there do I have to manually archive them? Or do they stay there? So for sounding thick?
You can manually archive them if you wish.
It just keeps everything tidy, but it’s not compulsory.
If you have used Quickfile’s “Year End Process”, located in: Account Setting - All Setting.
Then thats all you need to do, as running the “Year End Process” automatically creates the correct Journal entries to write back that years transactions which moves the P&L totals to the balance sheet, closing and locking that accounting period.
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