When you run your year end, it's a good idea to create an archive of your data. This makes it easy to report on previous year data, without current year postings getting in the way.
A common question we're asked is whether creating an archive removes transactions and records from your live data. Don't worry, archiving your data doesn't delete anything. It simply creates a copy so you're then free to choose what data you want to delete and what you want to keep.