VT Transaction+

Year-ends

• Year-end transfer journals are now automatically updated whenever a retrospective entry is made. This makes it much easier to work on multiple years at the same time.

• The current year can be very quickly changed by clicking on the year-end caption on the status bar and selecting a year-end from the pop-up list, or by clicking Next to create a new year-end.

• As a result of the above, the year-end transfer journals will be virtually invisible to most users. They just simply select the year they want to work on.

• The current accounting period (if set) cannot be set to a period outside the current year, reducing the scope for confusion.

• Year-ends have total flexibility. There is no need to set any up at all, or they can be re-dated or deleted. For instance, if a client sets up the wrong year-end date you can re-date or delete the year-ends by choosing the Year Ends command from the Set Up menu.

• The movements on balance sheet accounts such as fixed assets additions, drawings and dividends (after 1/1/05) are automatically cleared to their respective cumulative account by the year-end transfer journal.

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