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Balance Sheet Roll Forward (Desktop) ​

What it is: A process that closes off the current period's income statement and carries the balance sheet balances forward into a new client file for the next year or month.

What it's for ​

At the end of each financial year (or each month for management accounts), you need to start a fresh set of books that begins where the previous period ended. The Balance Sheet Roll Forward does this automatically: it zeroes out the income accounts, transfers the net result to retained earnings, and opens the next period with the correct opening balances. It is also used when processing monthly management accounts or when the client uses the Cashbook feature.

How to do it ​

Performing a roll forward (DX103) ​

  1. Go to Client Setup and select Balance Sheet Roll Forward.
  2. Confirm by selecting Yes.
  3. Choose your Roll Forward Options:
    • Copy CURRENT Financial Statements — keeps all your existing formatting and custom changes on the AFS for the new period (recommended in most cases).
    • Update Default Reports — refreshes standard reports to the latest template version.
    • Move Current Notes to Prior — moves manually entered note details (e.g. a PPE movement schedule) into the prior-year column automatically.
    • Copy NEW Financial Statements from Template — replaces the AFS with the latest template; you will lose any custom changes from the prior period.
  4. If you need to switch the Framework or Working Papers for the new period, use the drop-downs to select the correct options.
  5. Choose Roll Forward into Next Year (annual) or Roll Forward into Next Month (monthly management accounts).
  6. Select the Retained Income Account from the Working Trial Balance when prompted, then click Next.
  7. Review any pending Disclosure Updates — tick or untick them as required, then click Next.
  8. Under Update Reports, select any individual report sheets you want to replace with fresh versions from the template, then click Next.
  9. Under Update Working Papers, select which working papers should carry over to the new period, then click Finish. (Do not include RAC Working Papers here — they roll forward independently.)
  10. The new period's client file opens automatically, with balance sheet items in the Opening Balance column and the income statement cleared.

Source ​

https://draftworx.helpjuice.com/desktop/draftworx-desktop-balance-sheet-roll-forward

Walkthrough ​

https://scribehow.com/viewer/Draftworx_Desktop_Balance_Sheet_Roll_Forward__DX103__W1HNeGDnRuecZKn1UwC0SA