Yes. You pay once and the file is yours to keep and use every year. A ProfitDrawer bookkeeping spreadsheet covers one financial year at a time, set on the Settings tab, with room for 1,000 income rows, 1,000 expense rows and 500 trips. For a new year, save a copy of the file, change Financial year (starting), for example to 2027, and clear last year's rows. The old file stays as your record for that year.
Starting a new year:
- Keep last year's file as it is. Rename it, for example "Books 2026". It is your record, and tax records are generally kept for 3 years after filing.
- Make the new copy: in Excel use File > Save As; in Google Sheets use File > Make a copy. Name it "Books 2027".
- Open Settings in the new copy and change Financial year (starting). Check the mileage rate, since the IRS rate changes, and update your profit goal.
- Clear the old rows on Income, Expenses and Mileage (select from the Date column across and press Delete). The formulas in the shaded columns stay.
- Carry over unpaid invoices by re-entering any still unpaid, so they stay on the Unpaid Invoices tab.
Why one file per year: the dashboards and totals only count rows dated inside the financial year on Settings, so a mixed file would leave older rows out of the totals anyway.
The financial year can start in any month, so a July to June year works the same way.
Source: ProfitDrawer FAQ · Updated
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General information, not tax, legal or financial advice. Check the rules for your state and your situation.