Update a Client for a new tax year
When you create a client, you set them up only for the first tax year for which you want to enter data. In order to set them up for subsequent. or earlier, tax years, you must perform a year update.
When the new tax year is created, certain data is copied from the year from which you update. This is generally data that does not change on a tax year basis, for example bank or building society names and addresses.
Example
If you updated from 1997/98 to 1998/99, details of banks and building society names and address and other standing data will be copied from 1997/98 to 1998/99. Actual figures will not be copied.
To year update:
- Make sure that the currently selected tax year is the one from which you want to update.
- From the Tools menu, choose Year Update. The Year Update window appears.
- Select the year to the 5th April that you want to update to.
- Click OK.
- The new tax year will now be available for the client. Data such as bank names and addresses is copied from the year that you updated from into the new tax year. Tax figures that change from tax year to tax year are not copied.