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Author
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Topic: Update Asset & Liability Info from previous year?
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FN_User
Member
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posted 11-10-2006 01:55 PM
 
I had to make many changes in tax or cost basis on last year's books. When I run Update Starting Balances for the current year, only some of the basis changes are updated. How can I update all of them?
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fni_support
Moderator
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posted 11-10-2006 02:04 PM
Update Starting Balances takes any ending balance that changed in the previous year and updates the starting balance in the current year. If there is a change, it also updates the other Asset & Liability info. If there is no change in the account’s ending balance, the other Asset & Liability info is not updated.Navigator has a special Update Asset & Liability Info available in Test Mode. It updates Asset & Liability info for some accounts, whether or not the account’s ending balance changed. It does not update the balance, only the other Asset & Liability info like cost basis and number of shares. It does not update all accounts, for instance it does not update accounts with IRA Format Type. To update starting balances and A&L info: - Back up current year's data.
- Run Update Starting Balances. All accounts with changes in previous year ending balance will be updated with new starting balance and any changes to the A&L screen.
- Run Test Mode Update A&L Info from Last Year. A&L changes will be updated for some accounts but not all.
- Run Test Mode A&L Info report for both years. Sort by Format. Manually update any A&L changes for Format Types that #1 and #2 above did not update.
To switch to Test Mode: - Open Navigator.
- Select Help | About Financial Navigator.
- Hit the letter "t" on the keyboard.
- Select OK twice.
- David
FNI Technical Support
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