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How to set opening balances for new financial year and ignore the last?
I need to start my financial year using FreeAgent for the first time. I'm already using it for tracking time and drawing up invoices and have also started explaining bank account transactions. My problem is that the Taxes and Accounting 'widgets' are busy crunching numbers for my 07/08 year and it's obviously incomplete and wrong. I want to start fresh from August but do not want it to lose my information re. Invoices and time. Can I set a new opening balance for 08/09 and have the system 'ignore' 07/08?
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Inappropriate?Lee,
Looks like you'll probably need to set your FreeAgent Start Date to be at the start of this year.
Even if you do that, the invoices and time will still be in the system - although we might need to make some changes to allow you to view the invoices...thinking out loud...shouldn't be too hard...maybe a 'by month' view that includes all months with invoices rather than just the accounting periods...1 Comment
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Hi Ed. Can you give me some idea on how to go about setting my Start Dates without losing my invoices, timesheets etc. I need to do this at the end of this month to start using the service properly. -
Inappropriate?OK ... so this isn't an easy fix then. Can I liaise with you on this over the next week or so. I really want to make a good start this financial year and I'm hoping using FreeAgent will be infinitely less stressful than the Google Docs Spreadsheet I'm using at the moment! What can I do to set my opening balances for August 1st?
I’m confident
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Inappropriate?Lee
Nothing will be lost by changing your FreeAgent Start Date - it's purely used to determine which accounting periods to show and where to reference the opening balances from.
We would just need to allow viewing of pre-freeagent-start invoices which is currently not possible.
Do drop me an email directly (ed at freeagentcentral dot com) and we can work through this together...
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