Now that year end has finished, what do I now do to start my new tax year figures for 2010-2011? I have received payments in the new tax year for the previous year, what tax year do I enter it into, does the balance outstanding for trade debtors carry forward to the new tax year?

For general help in this area, file handling and Saving As functions, refer to Part D of Section 02 of the User Guide. The year 2009-10 that you have worked on is now finished and can be sent to your accountant for accounts preparation. Enter all current year 2010-11 transactions into a new file. You can create a new file by opening the original template that you will have created when you first bought the software (refer to Part D of Section 02 of the User Guide) and saving that as this years 2010-11 file. You will need to enter a list of opening Trade Debtors into the 2010-11 file as a single entry by customer or detailed by invoice if you prefer. Enter values gross in the net column if you are VAT registered to avoid double counting the VAT. Any monies you receive in the year 2010-11 for invoices raised and brought forward in your opening list will then net off and reconcile accordingly. Your accountant may update / adjust your list of Trade Debtors when they prepare / audit your accounts. The only other systems / update function you need to perform is to enter the account descriptions you created in the Software Page AC in the 2009-10 file into the 2010-11 file. You can block copy and paste these very quickly from one file to the other, and make any improvements / changes to the account descriptions structure as you go. The opening balances of the 2010-11 file will be the closing balances of the 2009-10 file but these are best entered after your accountant has taken the 2009-10 file, re-worked the figures for errors, omissions, accountant's adjustments, etc. and produced a final trial balance for you. Ask your accountant for the final numbers and enter these as the Prior Year figures in the AC software page when available. And that's it. You're good to go for another year.

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