Starting Fund balances in the New Year

[john30brown]

PC 10 xp computer,,, this is first year that I have responsibility of moving data into the new year. In reading the Manual received with my software, I find Page 244 Deleting Fund Accounting Data that I should enter the month and year for my earliest date to retain data. Then I have option of setting all Accounts to Zero. This, I want to do for all expense accounts but not for Temporary Fund Balances and Liability Funds. How do I keep the Temp fund balances in or do I have to enter credits to these accounts and debit my checking account? and if I have to do this, Was my checking account balance decreased by the amounts of Fund balances that went to zero?

Thanking you in advance for your assistance,,

[tborgal]

You do not have to delete any data at the end of the year. The expense accounts zero out automatically on the first day of your fiscal year. This happens when you change your working month. All Fund balances and liability accounts remain. This maintains all your history so you can look back at what you have done in the past. The only thing you will need to do is update any budgeted accounts that you may have. I say only, but this can be time consuming if you have a lot of budgeted accounts.

[john30brown]

Thanks your inbput.. That makes it easy to do...]