Historical Balancing

[Soceir]

Hello,

I have a question about account balances.

Is there a way to disable historical balancing. 

I mean i want for each year account balance to start new without carrying over last years balance.

Fore example for my fiscal year 2019-2020 I paid rent 1000 USD (monthly 100 USD x 12). When generate a general ledger report it shows my 12 transactions x 100 USD.

However when I do for my fiscal year 2020-2021 same rent amount and generate the report it uses last years balance as starting balance and the starts adding this years transactions.

Is there a way to not show last years balance?

Thank you for your assistance.

[Jsalgado]

You should have your fiscal year end set in "Options", "Accounting",  then it just rolls over.

[Soceir]

Hello,

Thank you for your reply. Is there a way to not have it roll over. I do not want to have closing balance of previous year show up in this year.

 

[GRH]

Hello Soceir,

The way accounting works any balance will always be rolled over as the opening balance - for example Debtors, if the Debtors balance didn't roll over you would lose track of what you were owed and reports would be wrong.

When choosing your report - Reports>Other Reports>chosen report, you will be able to choose the start and end dates, or select the period, such as 'This Fiscal Year' or 'Last Fiscal Year'. That should generate the current or last years fiscal data.

There does not appear to be a 'Year End' procedure, but you can force a no transactions with a date before the current year, when you have finalised the previous years accounts, by using 'Accounts>Closed-to-date' from the menu bar.

Hope this helps.

[Soceir]

Thank you very much for your reply. I will check.