Problem creating Grandfather, Father, Son backups

[khanyash]

Hasleo Backup Suite does not have the concept of "backup set", but you may be able to implement a similar retention policy in the following ways:
1. Perform a full backup on the first day of each month, and perform incremental backups on other days.
2. Set full backups to be retained for more than 31 days.

Would this setup delete the old backups when Hasleo creates a new full backup on the first day of each month?