No need to purge your transactions

Software: MoneyWorks accounting software

You never need to purge your valuable transactions from MoneyWorks, unless you want to (or your file is enormous and approaching the four gigabyte limit). This means that you never need to discard your valuable transaction data, something that is particularly important when looking at historical information for your customers.

Period Management

But you do need to manage your periods (under Command>Open/Close Period). In particular:

  • When you have finished with a period it should be locked. This will stop transactions being entered or posted onto it;
  • Once you have received and entered the final results/adjustments from your accountant for the financial year, that year should be closed, as you will never need to alter it again. Closing is permanent, and cannot be undone.

If you don’t close your periods, MoneyWorks will (after about seven years), refuse to open any more. Should that happen, simply go in and close the old periods from seven years ago.