Reset financials

Our program requires a yearly clearing of the books at the end of December. Is there a way to reset vAccount (keeping all vendors, etc) with a new budget for the new year?

Hello,
There is no single button to reset everything except vendors, However you can clear each section one by one whenever you want.

Is it possible to actually clear the database somehow or any easier way to remove the financial information for the budget from year to year?

You can clear the transactions from Income/Expense views itself, filter the results for the year using Begin/End dates, Append limit=0 in the URL, It will load all the transactions for that year. Check all the transactions and click Delete button. And you are done.