Following steps will create new finalcial year for current firm you are working on , you will have to follow same steps for each Firm in your application
After Logging in to Application Press F2 on Main Menu and select 'Create New Financial Year' Option.
You will see this window, which gives you options for choosing which data is to be carried forward in next financial year.
Normally, you should keep Y for all the options.
The program will ask you for final confirmation to start the processing of creating new financial year.
It may take around 5-10 minutes. The timing may vary depending upon your data volume.
The program will show you progress of various steps in creating the new financial year.
Let the process complete. Once complete, programs main menu will appear.
You should see new financial year in top-middle area of the screen.
You can start working in new financial year hereafter.
To change working financial year, press F2 on menu and select "Change working financial year".
Once the new financial year is created, and when you exit and run the program again, it always starts working in the new financial year automatically.
Regarding change in VAT%
Wholesalers may need to update VAT% and recalculate Purc Rate/PTR/Sale Rate for all products with 5% VAT.
We have provided necessary features in our latest version: 2.9.16. Please login at http://download.alliedsoftech.com or http://download2.alliedsoftech.com and download the latest version and update the program.
After the program is updated, press ^Del at main menu. Enter the password. You should see "** Update Vat Percentage" option in the list. Select it
These options allow you to choose the options for updating VAT and recalculating rates. Normally, you should keep "Y" for all the options and run the program.