Process for year two and onwards - manual clients

As part of importing the bookkeeping data for the new year (article here on loading manual records), the final stage allows you to roll forward reconciliation data from a previous period.  See details on how to do this here

You will also want to roll forward balance sheet opening balances and also prior year profit or loss to retained earnings.

To do this, from the client home screen select 'Edit Client' and select the 'Period Tab'

In the Fiscal Years section, select the period that you want to bring the opening balances into

Select the following options

• opening balances - this will roll forward the balance sheet from the previous period
• retained earnings - this will roll forward the prior year profit / loss to the retained earnings account entered at the bottom of the page (second screen print below) NOTE: THIS FEATURE IS CURRENTLY NOT ENABLED SO PLEASE DO NOT USE

As the retained earnings feature is not yet enabled, if you turn on Opening Balances then you will see an unbalanced warning in the current year.  To overcome this you will need to load the retained earning figure manually into the current year.

• if you have entered the current year data via adjustments then you will need to load the Prior Year profit / loss to retained earnings entry as a single line on a load file.  The file can be .xlsx or .csv i.e. not .xlsm and needs to contain the following, with headings
  • nominal code (retained earnings is 310100)
  • description
  • either Value OR Debit and Credit as separate columns
• If you have loaded the bookkeeping data via an excel upload then add an additional line to the file for profit / loss to retained earnings

Once you have the file, from the client home screen select actions / replace bookkeeping data and follow the steps to load the data.