Year End Close Wizard – New Year File

When you are performing a year end close and have selected the Create new file for New Year option, you need to select the new file to be used for the new year.

Directory

Specify where you want to save the new file's supplementary files.

Browse

Click the Browse button to navigate to the folder in which you want to save the new file's supplementary files.

Name

Type the new name of next year's file.

Note: Do not use spaces or invalid characters in the new year's data file name.

Test Connection

Click the Test Connection button to make sure the connection to the SQL server is working.

Back

Click Back to return to the Welcome Screen if you wish to change your file option for the new year.

Next

Click Next to go to the Year End Options page. The next screen will guide you in selecting your year end options.  

Notes

• Performing a year end close leaves the original file intact for reference purposes only.
• If you omitted information from the previous year, you cannot return to the previous year's file and enter information as this information cannot be updated to the new year's file.
• Time does not permit a multiple year end close to be performed.
• During a year end closure, staff and client records marked inactive that contain no unbilled time and expenses will be purged. Inactive records with outstanding time or expenses to be billed will be carried into the new year's file and kept inactive.

Tip: For additional help, see the Time QuickVid -Year End Close.