Clearing Short Years

You can select the Clear Short Years button to clear the short years entered in Years 2 to 20 on the Short Years tab. A message asks for your confirmation before clearing the short years.

To clear the Year 1 field, you must select the Book Defaults tab and enter a month in the Fiscal Year End field that is 12 months after the Business Start Date. For example, if the Business Start Date is 01/2010, then enter December in the Fiscal Year End field. Because the fiscal year-end is now 12 months after the date the business began, the system clears the short years in the Year 1 field on the Short Years tab.

If you clear short years, you must also reset depreciation for all assets that have system-calculated depreciation.