NL Defaults (NL settings)

If you have closed a financial year, but still have transactions to enter to update the closed year's financial balances, use this option to enable the Previous Year Journal Entry menu option. This menu option will let you make retrospective adjustments to your nominal accounts for the previous year.

• Select Post entries for previous year to enter values for nominal account records for the closing balances at last year end. The Previous Year Journal Entry menu option is available when you select this option.

  Clear this option if you do not want to enter these balances on the account records.

• If you select to Post entries for previous year, enter the year end date for the last financial year in the Last year end date box.

Changing the setting

Selecting the setting makes the menu option available. Clearing the setting means that you cannot use it.

In Sage 200 you can choose whether you want to keep details of your nominal transactions.

IF you do choose to keep your transactions, you can store them for a maximum of 36 months. Once the transactions are older than this period they can be archived or deleted. While the transactions are stored on the nominal account they can be used for analysis purposes, for example, to reconcile debtors balances in the nominal accounts to the sales ledger.

• Keep nominal transactions.

  Select this to keep your nominal transactions.

  If this setting is not selected, only a brought forward balance will be kept for each nominal account.
  Changing the setting

  If you change this setting so that it is no longer selected, all nominal transactions will be lost.

• Keep transactions for.

  Enter the number of months that you want to keep transactions on the current files (up to 36 months).

  This is the default setting used when you create new nominal accounts. You can change this for individual nominal accounts when required.

  This is only relevant if you have selected Keep nominal transactions.

  Changing the setting

  Changing this setting only affects new accounts which are subsequently created.

• Archive transactions after this period.

  Select this to send the transactions to an archive file after the Keep transactions for period.

  Clear this option to delete the transactions after the above period.

  While the transactions are stored on the account you can view and print them as required.

  When you close a period, transactions that exceed their specified duration are either deleted from the account or transferred to the archive file.

  You can delete transactions from the archive file. You may want to delete archived transactions that are over a year old, or more frequently depending on the disk space used.

  Changing the setting

  Changing this setting takes effect the next time you close an accounting period. Changing the setting does not affect transactions that are already in the archive file. You can manually delete transactions from the archive file when you want to, by using Purge Transactions.

Archiving of data is not currently available in Sage 200 Online.