Why are you not rolling over to a new year? This would save so much hassle plus allow you to compare previous years against current year.

Or am I misunderstanding you? If shares sold then no need to start a new company since everything else in the company remains the same.

If company sold to a new owner then you can't continue by entering a new company name and adding balances toward new company since it stays with the old company and gets finished off in the old company.

The new company wold have stmt of adjustments from lawyers to show what asset and at what value gets entered into the new company via journal entry.

Are you able to give more details?

A few years ago when I was using Simply Accounting, my program ended up having a "glitch". I had one client who owed us $1ER783058...So all these years I have been just rolling over to a new year, however, if I ever went to this client's file it would crash the program. Also, we had to get many year end balances manually as this is not an actual number therefore data integrity was compromised. Simply Accounting could never help me as they had never experienced anything like this. I finally decided that this would be the year when I made it so we could use all the company data as it were intended. It has nothing to do with selling any shares or anything like that, just a silly glitch in the program that made year end balances impossible to do through the program. So as I noted above I took all the information from last year and entered it into the new year and new company. The historical invoices and payables were easy, so was inventory, but now that we have all our books back from the accountant we have actual year-end balances and I have to enter those appropriately so I have the correct numbers to start.

Thanks for your question, hope this helps.

ahh I see. So go ahead and enter the year-end adjusting entries on the old set of books and then print off the TB to transfer those numbers over to the new set of books. I'm guessing you are still in history mode hence why you were able to enter just the invoices as subledgers.

Here is a contact as well to see if he can fix the glitch for once and for all.

Tony Martin - Code 6 Programming email: [email protected]  if anyone can fix something in Simply/Sage he's the man.

You could ask to see if he could look at it and give you an estimate - you might be quite surprised at how little it can cost.