# General Business Category > Accounting Forum >  Pastel Year End

## Elijah

Hi, I am doing a year-end in Pastel. In the year-end wizard there is the option to Run the Year-end in the New Company.I would like to know what the implications are if one chooses to run the Year-end in the new Company.

Many Thanks
Elijah

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## Mike C

Hi Elijah.  If you choose to run the Year-end in the New Company it means that you will need to continue all your processing in the new company. So if your old company was called MYCOMP and your new company is called COMP12, you will have to continue your work for the year in COMP12.

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## Elijah

To continue your work in the new company seems to be the logical thing to do. So why have the option not to do so. Under what circumstances would one choose not to run the year-end in the new company??

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## Mike C

Hi Elijah.  I like to use the same name for my company each year, so I make the new company (which is actually the backup) to have the name with the year - for example (COMP10) (COMP11)(COMP12) and then run the year end procedure in my old company name so that I still call up my company with the name I am most familiar with eg COMPANY.

It really boils down to personal choice, however.  There is nothing wrong with you running your New Company as COMP13 and doing the year end in that.  Next year you call your new company COMP14 and run the year end in that.  Does that make sense?

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Elijah (10-May-12)

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## Neville Bailey

> Under what circumstances would one choose not to run the year-end in the new company??


Many companies (myself included) choose to keep the live company database name consistent from year to year, and only the prior year company names are unique in order to distinguish the financial years involved.

In the scenario I have described, and using the names that Mike has chosen, COMP12 will be an exact replica of MYCOMP (prior to running the year end) and you will continue to work in MYCOMP after running the year end.

Common benefits of the above option is that your backup settings do not need to be changed to accommodate a new database name (which can easily be overlooked), and you might have third party applications (with ODBC connections) to your live Pastel database, with a path to that database's name.

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## Elijah

Hi Mike, yes, starting to make sense, so just to be on the safe side - Whichever option I choose. The basic operation of year-end: i.e "Closing-off The Nominal accounts" and creating the new balances for the Balance Sheet remains the same. It only affects the way in which you wish to "Name" your companies?

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## Elijah

Okay, got it! Thank-you Mike C and thanks Neville. Much Appreciated.

Elijah

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## Dave A

> Common benefits of the above option is that your backup settings do not need to be changed to accommodate a new database name (which can easily be overlooked), and you might have third party applications (with ODBC connections) to your live Pastel database, with a path to that database's name.


Not to mention a consistent active company file location in a multi-user environment  :Wink: 

Nothing quite like one user being out of step and piling into the wrong company file - especially with the irreversible nature of Pastel.

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