View Full Version : New year set up

12-17-2003, 10:05 AM
We currently have 2002 and 2003 years showing. I need to set up 2004. Does 2003 need to be closed before this is done or can I purge 2002 records? Years ago we were told in order to run 1099's we had to print them before closing any year. This is what we have done for years and have always had to cut hand writen checks for the beginning of the following year until it was set up. Seems there has to be a better way!

Jim Dale
12-17-2003, 08:54 PM
you can close 2002. save your backup

Diane Koers
12-23-2003, 08:09 PM
You need to close your 2002 year, but your 2003 year will remain open. You can run 1099's at any time for 2003. Closing 2002 will not affect them at all.

Make a backup
Create a new dummy company then restore the backup to the dummy company. Go to Maintain Company Information and change your company name to reflect that it is 2002 data. (IE: ABC Products 2002). Also, change your accounting period to 12 which helps remind you this is 2002 data. This is your backup company that you can refer to for any 2002 data. Just don't change any data in it!

Next, go to your real company data and close 2002.