Your company's financial history is a record of its monthly account balances for previous fiscal years. The program moves your company's account information to your financial history whenever you start a new fiscal year. If you want to see how many years of financial history is stored for your company, open the Settings window from the Setup menu and click the Company link.
The data is stored independently for each year for up to 7
You can view the financial history amounts from any of these years on a variety of
reports:
You can clear this data at any time. You can also set up Sage Simply Accounting to clear the data automatically.
Keeping this data allows you to:
Note: It is a very good idea to keep this and all of your company data for a full 7 years in case you are required to produce information from your financial history for the federal government.