[Question] Pastel Xpress: Taking on Opening Balances after input processed for new year

[Questor]

Not too familiar with Pastel Xpress - bookkeeper wants to commence input for new client before posting previous year's closing balances, which are not yet available.

Can she set up client and start posting March 2020 input and then post last year journal to load closing balances for previous year or must she set up client with year end 28 February 2020 and roll forward into new year in order to have a previous year available for the last year journal posting?

Any comments appreciated. Nice ones.

[Neville Bailey]

It is possible to process the closing balances for the prior year, even if you have started processing in the current year.

In order to do that, open the relevant journal, click on the Settings button at the bottom and untick the option "This Year Transactions", and then close the Settings screen. You will then see the words "Last Year" appear in red at the bottom of the journal, and all the financial periods for last year will be available.

[Questor]

Thanks for the speedy response, Neville.

I am aware that one can process prior year journals in the manner you describe but, perhaps my question could have been better phrased.

Do you need to set up a year first for a new client, then roll over into the next year, so as to have access to the prior year for posting the opening balances? Or does the first year of input have a prior year available for postings, finish and klaar?

Thanks

[Neville Bailey]

There is no need to first set up the first year before processing the year-end - the prior year will be available in whichever year you first set up.

[Questor]

Excellent!

Many thanks, Neville.