Understanding how to rollover Datasets with the same source
If both, your prior year and current year datasets are connected to the same accounting source file (e.g., MYOB/Xero/QBO etc), you can use the "Roll Over Opening Balances" feature.
This feature automatically replaces the opening balance journal that was imported from the source file e.g. MYOB in the new dataset.
It does this by creating a new rollover journal based on the closing balances from the prior year dataset and voiding the opening balance journal imported directly from the source.
Example:
If you have datasets for 2023 and 2024, and both are linked to the same MYOB file:
You can use the roll over opening balances option shown above in the 2024 dataset. This will overwrite the imported MYOB opening balance journal in 2024 with a new rollover journal based on the 2023 closing balances.
Understanding how to rollover Datasets with a different source
If your datasets are linked to different accounting source files, use the "Compare Datasets" feature instead.
The Compare Datasets feature will compare the closing balances from the prior year dataset and compare them with the opening balance journal imported in the new year's dataset where applicable. (if there is no opening balance journal in the new dataset it will adjust accordingly)
In this scenario, as a result:
You will have two opening balance journals:
One imported from the source file.
One created by the Compare Datasets feature to account for any differences between the closing balance of the prior year dataset and the opening balances imported from the source file.
Together, they ensure the closing balances from the prior year are accurately rolled over into the new year.