Resync Prior Year (Desktop)

What it is: A function that updates the prior-year trial balance data in the current year's client file when changes have been made to the prior year's file after the current year was already created.

What it's for

In practice, prior-year adjustments sometimes arise after the current year's work has already begun. When this happens, the current year file's comparative figures become out of date. Rather than re-importing the prior year from scratch, the Resync Prior Year function pulls the updated prior year data directly from the prior year client file and refreshes the comparative column in the current year's Working Trial Balance.

How to do it

Resyncing the Prior Year

1. Open the current tax year client file in Draftworx Desktop.
2. Navigate to the Working Trial Balance.
3. Select Resync Prior Year.
4. Select Yes to confirm.
5. The prior year Working Trial Balance is updated in the current year file, and comparative figures in the Annual Financial Statements will reflect the changes.

Tip: Only use this function if the prior year client file has actually been updated after you started the current year. If you have not changed the prior year file, there is nothing to resync.

Related concepts

• Trial Balance

Source

https://draftworx.helpjuice.com/desktop/draftworx-desktop-resync-prior-year

Walkthrough

• Scribe guide: https://scribehow.com/viewer/Draftworx_Desktop_Resync_Prior_Year__DX151__hchhbn5UTMW2ePKaY11PbQ