Creating an accounting file for the New Year
At the end of every accounting year, the program gives the possibility to automatically pass on the new year, even without having allocated the profit or loss of the year that just ended.
- Open the current file and click on the "Create New Year" command in the Account2 menu: a window, that shows a difference corresponding to the profit or loss that has not yet been allocated, will appear. There may also be differences due to accounting errors.
- From the list that appears, the user can select the account to which the result of the accounting period has to be allocated, or one can directly confirm with "OK" if the allocation of the result has to be postponed.
- Confirm the File and accounting properties for the new year
- From the File menu, activate the "Save as..." command, indicating the folder where the new accounting file needs to be saved.
Updating the opening balances
In case the previous year has been closed and changes have been made afterwards, the opening balances of the already opened new year need to be updated. For more information, please consult the lesson Update opening balances.