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Accounts, Starting a New Set of Accounts

Unlike many other accounting systems, Durell can retain all the details of your previous years’ accounts in your current Account Set, though ultimately too much data will slow it down and eventually cause problems. Hence you are recommended to start a new set of accounts every three to five years, depending on invoice volumes. This very simple procedure is described in “Accounts, Set-up Account Sets” in the section entitled “Create a New Set”, where you should select “Copy everything from current set”, as shown below. Note that you must enter a “First year” before the intended new year to allow for all the old but still outstanding invoices to still be available for reconciliation. Anyway, if you get it wrong the system will automatically reset the “First year” accordingly, when it re-creates the old invoices.

What It Does

This process will make empty copies of all of your existing nominal, control and bank accounts, along with copies of all of your automated “Posting Default” procedures, exactly as they were in the old set. It will also re-create all old un-reconciled invoices in full, and bring across the un-reconciled element of all old part-reconciled invoices. These new versions of the invoices will be renumbered starting from 0000001, because the old system could have already been near its limits, though obviously policy holder and policy number details will be as before. The re-created invoices will also retain their ability to “jump” to policies (via internal links), and as far as possible, links to corresponding invoices in the other ledger (e.g. for adviser pay-aways), though in many instances the corresponding invoice will have already been settled in the old system, so won’t be present in the new.

What You MUST Do

With regard to this choice you must…

  • If a General Insurer then transfer any outstanding “transferable commission” in your old set of accounts (see “Accounts, Period End, Transferable”)
  • Perform a “Period End” on the set of accounts you have copied from, so that its data cannot change any more (see “Accounts, Period End”)
  • Start your new set of accounts with the option to “Copy everything from current set”, as described above
  • Run the Regenerate routine on your new set of accounts to re-build your nominal totals (see “Accounts, Rebuild Nominal Ledger Totals”)
  • Enter journals, as required, for all of your opening balances (see “Accounts, Journals & Opening Balances”)
  • General Insurance Brokers must enter a journal between one of the “GPRM - General, Premiums” nominals and the “PLBF - Profit & Loss (brought forward)” control to balance the two GPRM nominals
  • Login to Durell as each of your user names and link them to the new accounts set (see the section on Multiple Sets of Accounts in “Accounts, Set-up Account Sets”)