General Information

You can now combine archiving the oldest fiscal year and payroll year during the Archive Oldest Fiscal Year process.

• Archive your oldest fiscal year when you no longer require frequent access to that information
• This option is in Database Administration, Archive Company Data, Archive Oldest Fiscal Year
• To archive the oldest fiscal and payroll years, the fiscal year-end date must be December 31
• There’s a checkbox allowing you to opt out of a combined archive
• The checkbox is selected by default
• A “Payroll Warning” message will display during a combined archive before the payroll archive process
• The wizard's Maintenance Tasks include “Payroll Options” similar to those in the Archive Oldest Payroll Year process
• The results of the maintenance tasks include the number of employees removed and those marked as inactive

Definition of an archive company

• You can move unnecessary fiscal year data to a separate company file for storage
• This separate company file is the archive company file. It’s a copy of the earlier fiscal year's accounting data
• Access the archive like any other company, but select Show Archives on the Company List window

Before archiving your oldest fiscal year

• Create two backup copies of your company data
• Enter all transactions for that year
• Post all yearly corrections and adjusting entries from your accountant
• Fix any General Ledger audit errors before you proceed with the archive process

Tasks accomplished by the Archive Oldest Fiscal Year wizard

• Creates a data folder with the archive name you specify
• The process transfers transactions from the oldest fiscal year in your company to the archive company
• Adjusts beginning balances for assets, liabilities, equity, jobs, vendors, clients, and equipment to match last year's ending balances
• Transfers the income and expense balances from the previous year into the beginning balance of the current company's Retained Earnings account

Steps for the Archive Oldest Fiscal Year wizard

The Preparation step

• Searches for unprinted checks
• Completes a general ledger audit
• Completes an inventory audit (if you have the inventory module)
• Creates a temporary backup
• The process stops immediately when unprinted checks or audit errors are found

The Maintenance step

• Removes from your current company folder all jobs with Closed or Refused status and all related records
• Removes from your current company folder all payable invoices with Paid or Void status and no Job # dated before a date you specify
• Removes service invoices from your current company folder that have a Paid, Completed, or Void status, dated before a specified date
• Removes purchase orders with a Closed status and no Job# from your current company folder, dated before a specified date
• The Maintenance, Remove process deletes jobs, payable invoices, service invoices, and purchase orders from the current company
   NOTE: These items will still be accessible in the archive company created during the fiscal year archive process

The Archive Data step

• Creates the archive company and copies company data, including Images, Attachments, Aatrix Forms, Direct Deposit, and Reports
• Removes accounting data posted to future fiscal years and recalculates balances and inventory quantities
• Transfers records of jobs, vendors, employees, and equipment to the archive company
• Verifies the archive data
• Removes fiscal year information from the archived year for the current company
• Removes jobs, voided and paid invoices, service invoices, and purchase orders from the company if specified during Maintenance