You can have multiple years open at the same time. There is no roll-forward process.
If you're working with multiple asset years and change the earlier year, the changes automatically flow through to subsequent years.
For example, you've finalised your client's asset register and are drafting the reports for 2018 when your client calls and tells you that they've forgotten to tell you about the new laptop they purchased in the 2017 financial year. Because of the multi-year functionality, you can easily open the 2017 financial year and add the laptop purchase. If you then open the 2018 register, you see that the laptop is there with the correct opening written-down value.
- Open the Client Accounting > Assets tab for your client.
- From the TASKS bar, click Add year.
In the Add Year window, enter the financial year in the Year end field and click Add. This must be 4 digits in length.The Start date and End date is automatically generated when the year is entered.
Did you know? You can post journals from Assets to the workpaper period.
To post journals successfully, make sure the End date of the assets year is the same as the End date of the workpaper period.