Is it possible to set up a clean set of accounts for the new financial year?

DebB

My Reckon One accounting file has some nuisance issues that recurr now and again from several years ago. Also my business has changed significantly now and many of the GL accounts, customers and products I needed previously are not longer relevant. I know I can make things inactive but I cannot delete them to clean things up. My question is: If I set up a new accounting file in Reckon One to start again, will my STP still work?

Rav

Hi @DebB

A new Reckon One book will be completely separate and won't have any relation to your existing one which means you'll be starting from scratch in all respects. There is no way to transfer data from one book to another at this stage either unfortunately.

Are you experiencing problems or errors with your existing book that is leading you to want to create a new one?

DebB

Hi Rav,

Yes. It keeps putting up random transactions from back to 2018 that I cannot get rid of. They are not influencing my current year accounts (so not critical), but it is annoying and misleading. I have worked with Reckon One help some time back to resolve this but the recommended fix is to unreconcile every bank rec on three bank accounts right back to 2018 to delete and redo these transactions, then re-reconcile everything. I am not comfortable doing that, so they remain and i am ignoring the random incorrect transactions in reports. I was hoping to be able to create a clean set of accounts without the errors and with only the GL accounts etc. that I need now and created in the correct order so my reports flow as they should. I am happy to set up the GL and enter balances etc. to do this but I don't know if my STP Connection will have to be re-established and if so, how to go about it. Is this do-able and if so, is it easy or complicated?

Rav

Hi @DebB

Where do these old transactions appear when you're working in your book now?

To answer your question around the STP side of things, if you were to setup a new book, you'd have to remove the ABN from the current book and enter it in the new book settings. When you send STP submissions from the new Reckon One book it will use the same STP entity in GovConnect provided the details match eg. ABN, GST branch (if relevant), company name etc AND the new book is in the same account as the existing one ➡ This is crucial.

Just note, there are implications on other areas as well eg. templates, your invoice numbers will start again (this can be altered though), you'd need to setup your employees again etc etc so it will be fairly significant undertaking. If you were to do this though, the new financial year is probably the best and only time to do so.

DebB

Hi Rav,

They show up all over the place. For example, an invoice will show up as unpaid with a balance outstanding in Day to day › Money in ›Invoices. When I print a Customer Aged report, it shows up on the report (which it should not because it is a 2018 transaction) but with a nil balance. The balance should be nil. I have attached two screen shots so you can see what I mean. It is crazy, and likely caused by a file corruption of some sort a few years back, but it is really annoying. There are several of these and no easy fix.

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Thank you for the advice with the STP. I am leaning toward setting up a new file that will hopefully be free from errors. If I do it, it will have to be in the next couple of days before my first payroll.