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Thread: New company on Pastel

  1. #1
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    New company on Pastel

    Good day

    I have recently started doing the books for a company and they have not yet closed off their FY2014 but I am needing to start processing in Pastel cash books etc, can I just open a new Company and start the processing and then when everything is finalised for FY2014, bring across the opening balances?

    Thank you
    Lisa

  2. #2
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    Pastel allows you to transact in 2 financial years. So lets assume the year end is in Feb. The client has not yet finished the accounts for Y/end Feb 2014. No problem.

    You simply do a year end process anyway. This will make all the data for Y/end Feb 2014, become known as "last year". You can then transact as normal for the Y/end Feb 2015 which is now the "current year".

    When the final entries for Y/end Feb 2014 become available, you can capture them, normally as general journals. Just make sure to change the settings on the general journal page to "last year". This will give you the complete Y/end Feb 2014 figures by using the reports with the option set to last year. It will also update your opening balances for Y/end Feb 2015 (your current year), so there will be no need to "bring across" any late transaction manually.

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