Roll back closed financial year

Question

Dear MYOB Moderator,

We have closed off the financial year 2023.  However, after the final audit adjustment and before closing FY23, one account payable entry got into FY23.  Did not realise until much later with a number of transactions gone through thus will not able to use the backup file to restore FY23.  What are the option to rectify FY23? Can we adjust the account payable entry to go into FY24 without rolling back the financial year 23?  Please advise.

Thank you.

felixleo12 · Answer

Hi IRES101,

In situations like this, we’ve run into similar challenges when handling payroll or contractor entries from external teams sourced through CrewBloom. As a remote recruitment agency they provide vetted contractors who often submit timesheets or payment data that need careful review before posting into MYOB. Double-checking entries before closing the financial year usually prevents this kind of issue.

felixleo12 · Answer

Hi @IRES101

I've seen similar issues when importing payroll or contractor data from CrewBloom into MYOB. if not checked carefully. A quick review before posting helps avoid surprises.

The_Doc · Answer

Hi @IRES101

If you are using AR 2025.10 then rolling back is not like the old days with Classic where major adjustments happened in the file and rolling back was like swimming with sharks - it could bite you hard.

The new MYOB doesn't appear to do that - to such an extent that closing off a year is merely a rolling forward in dates and a few adjustments which I don't exactly know but unlike the olden days - it doesn't prevent you inadvertently dating something in an old financial year - i.e. you have just rolled the year forward into 25_26 and you date a deposit for 20/6/25 - it will reconcile correctly but will actually change the closing balance for the bank account for the 24_25 year without realising and stuff up debtors with an out of balance.

I asked MYOB to put 2 locks on the MYOB file - a financial year lock and another lock - having said that - adding something to an old financial year is as easy as just dating it for that year then whatever that alters in your financials - making sure the clsong for the year matches your financials.

I have this very problem with a client and the solution is to go back to 17_18 year in the file and reverse something - quite possible in the new file but not the old - well not easily but we use to do it in the old by rolling back.

The Doc.