Year end?


A

Adrian Parker

Hi. I've done my year end. I have an account which accumulates taxes paid.
It has several hundred entries within it. How do I remove all the entries
in this account?

I could just make an adjusting entry, but I do not need to see all the
entries from last year.



Adrian
 
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F

Fred Smith

The first question you'll get is why do a year end? Why not just let the
transactions accumulate?

Regardless, the year end procedure will delete only reconciled transactions.
So you will need to mark transactions in this account as reconciled before
they will be deleted.
 
A

Adrian Parker

Because I have to know how much I payed in GST each year, so I can make year
end remittance.

Also, if an accounts payable account is payed off, why would I want to see
10 year old transactions?


Adrian
 
F

Fred Smith

Most users never do a year end. They let the transactions accumulate because
they find it very useful to run historical reports. Have you never wanted to
compare this year vs last year?

And you don't have to run a report to find out how much GST you owe. It
should be the balance of your account on December 31st.

Regardless, only you can decide how you want to use Quicken. As stated, you
can get rid of the transactions by reconciling them.
 
A

Adrian Parker

I'd compare yearly reports, I wouldn't compare the years transaction by
transaction.

Year end. Close all nominal accounts to Income Summary, dump income summary
into one's capital account. If nothing else, is it not tradition?

At year end I print reports and make two digital copies of year end. So I
can return to previous year's transactions if I choose.



Adrian
 
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A

Adrian Parker

Fred Smith said:
The first question you'll get is why do a year end? Why not just let the
transactions accumulate?

Regardless, the year end procedure will delete only reconciled transactions.
So you will need to mark transactions in this account as reconciled before
they will be deleted.
I have an Account of type "Bill". Inside this account there are far too
many Payments (which have no matching bills) to edit manually. When I do a
reconciliation, the contents of this account are not marked with the R. How
do I either get their status to be Cleared or Reconciled without first
making a bill for every payment?


Adrian
 
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