Closing out a previous year

[Michelle]

Hi all,

I can't seem to find any info in the MM 2003 help regarding "closing
out" the previous year's transactions. Am I using the wrong
terminology? I basically want to archive and remove from the "ledger"
all the transactions from 2002.

How do I do this?

TIA

Michelle

 

[Dick Watson]

Read help about archiving (the File|Archive menu choice). It has many
limitations and complications--not the least of which is utter
irreversibility--and does not work like most people think it does. Please
don't do it until you understand all of these issues. Reviewing the posts
from this newsgroup at http://groups.google.com or referring to the FAQ at
http://www.bollar.org/msmoney would both be good ways to start getting
insight into archiving. Many of us who have used Money for a decade or so
refuse to archive. YMMV.

 

[Barry Schwarz]

Hi all,

I can't seem to find any info in the MM 2003 help regarding "closing
out" the previous year's transactions. Am I using the wrong
terminology? I basically want to archive and remove from the "ledger"
all the transactions from 2002.

How do I do this?

I also wanted to do this when I started. The answer is you really
don't want to do this for several reasons:
The archiving function sucks.
You need to reconcile old checks and credit card entries weeks
and months into the new year.
Investment transactions are never archived anyway.

The general consensus is just keep adding new data to the database.
It will grow "large" but most systems now have adequate memory, disk,
and CPU power to accommodate.




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[Scott W]

I archive every year after my tax return is filed. I have no problems & keep
a copy of the archive in my tax file burned to a CD.