You can clear transactions from the transactions file whenever you like and you do not have to remove transactions at all (subject to product level file size limits). You are advised to keep all transactions on file until at least you close the previous year as this would allow you to print an audit report for the previous year’s accounts in full for your auditors, which can considerably speed the audit and possibly reduce the charge.
Take this option when you are ready to remove historical transactions.
You are asked for the date up to which you clear transactions. You can enter any date prior to the start of the previous year, if you enter a date within the accounting calendar – current and previous year date range – then you can only enter a year start date or a period end date.
After confirming the date you are prompted to begin the cleardown process – reply as required.
Article ID: 1080
Created On: Wed, Jun 27, 2012 at 4:02 PM
Last Updated On: Mon, Jun 19, 2023 at 6:53 PM
Online URL: https://kb.datafile.co.uk/article/journal-cleardown-cashbook-1080.html