What is the best practice to create an HFM application?

Hello,

I would like to create a new classic application from an existing classic application. The structure of the new application will be different but all members in the new application exist in the original application. The new application should not have all the data (only specific entities). I have 2 solutions. The first solution is to create a copy of the exsiting application.

Below are the steps

1. Create a copy of the existing application with the copy HFM copy utility.  
2. in the new target application, delete unwanted data.
3. in the new target application, delete unwanted Journals. Should I unpost the journal? and then delete them for the unwanted entities (I think it can be done only manually)