Closing fiscal Year

[Unregistered]

I am running Peachtree Complete 7.0. I am reading that once a fiscal year is closed, all transactions and acct info cannot be directly accessed or edited. This seems really strange considering that this information may be needed at any given time. I was just looking into 1999 info yesterday...I had not closed this year for the reasons just mentioned. Question: Has Peachtree got a work-around for this problem? Seems like this "feature" would really handcuff your company. This is a last effort to keep my accounting software from going to SAP. Have subsequent releases allowed for companies to access prior fiscal year information once that year is closed?

P

[Diane Koers]

The solution is to create a backup company that you can access the prior year information.

Make a backup to your hard drive. Save it to the c:\peachw folder and name it BU2000. Now, create a new shell company. Don't worry about making any choices because it is going to be overwritten by the backup file you just made. When the new shell company is created, restore the BU2000 file to the new company. Next, go to Maintain Company and change the company name to your company name 2000. For example, ABC Products Inc. could be ABC2000. I also recommend changing the accounting period to 12 to sort of remind you which year's company info you might be accessing.

Now you have 2 companies. You have the original ABC Products Inc. and you have ABC2000 which is your backup company. You can now open the ABC Products Inc. company and begin the closing process.

See Peachtree for Dummies Chapter 20 section "Creating a Prior Year Company" and Chapter 18 section "Closing Payroll and Fiscal Years"