Closing out the year... 3 months late
For tax accounting purposes, I'd like to have a record of each budget year separably. With Q1 having just ended, I realize i should have hit "Fresh Start" on Jan 1, 2019 - but didn't. Any ideas on how to best handle the situation now?
2 reasons for dividing years: 1. I export things to excel and don't want to deal with years of old transaction weighting me down and 2. Several people have access to my budget and sometimes someone deletes a transaction by accident - I want to limit the amount of damage/back looking I have to do when that happens.
If there was a duplicate budget option, I'd duplicate and erase old stuff - but there isn't.
thank you for any ideas!
Honestly, I don't think there really is much you can do. Your options are basically:
- Continue with your current budget
- Do a fresh start and continue from now
- Do a fresh start, then manually adjust balances back to Jan 1st levels and re-add three month's worth of transactions (which sounds horrible, IMO).
You can submit a feature request (https://docs.google.com/forms/d/e/1FAIpQLSfNVCZCXFaokj9PjsnKXDau5-F2-cu-rdK9AgrBkdAa_xgjww/viewform) for a budget duplication feature, but that really won't help you right now.
You would never exclude or delete old years in a QB file, I would never recommend that you do it - it's the only way to easily report on year over year / period over period information and watch for trends as your business grows. That being said, I am anti-fresh start for personal budgets, too. I want all of my data available to me at all times :)