I am wondering if there is a way to archive prior year records or move them to another table?

So by default when a table reaches 10,000+ records QB options to not display them right away (for speed and performance reasons).

However, What you can do is set up a  report that filters out old records, and then set that report as the table homepage. 

Then every time somebody clicks the table they see the filtered report that in effect "archives" all the old records.

If you need more details on how to set that up, just post back with your questions or where you get stuck.