End of Financial year

Marion
Marion Member Posts: 9
I am using Personal Plus 2015 just for my personal banking records and share holdings. If I lock transaction as of June 30, 2016 does this mean, not only that I won't be able to change any transactions prior to that date but that I also won't be able to view any of my past transactions? For example if I want to compare my Telstra bills over the last 4 years or if I want to look back at the cost of a specific item. When you 'lock' do you have a new file name for that part which is locked? Once you have locked can you 'unlock'?
Thank you for your help.
Marion

Comments

  • John Campbell
    John Campbell Member Posts: 200 ✭✭
    edited February 2017

    Marion,

    What do you mean by "If I lock transaction as of June 30, 2016" ? I am not familiar with this capability.

    I have been running QPP since 1995 and have never archived anything. You certainly need to keep all transactions available so that you can do historical comparison reports.

    I am not an accountant, so have never seen the need to close off past years. This does allow for corrections to past year's records, which is not a worry for personal finances.

    John

  • Marion
    Marion Member Posts: 9
    edited July 2016
    John, I was referring to the way you can close off your books at the end of the year. I see now that this can be done by using the 'Year-End Copy' command to archive all transactions in a separate data file or by Creating a 'New Year' File '. I thought this might also help with the problem I have of the Net Worth report showing the Imputation Credit as a total of all past years rather than the current year only. Maybe I'll leave things as they are. Marion

  • Marion
    Marion Member Posts: 9
    edited July 2016
    Thank you so much, Dave. That was a great help.