Hi!
I'm currently using MYOB Premier v13 and we are still on Financial Year 2018, how do I close years 2019, 2020, 2021, 2022? Do I need to close it year by year starting to 2018 or can I just close 2022? Also, if I close year 2022 does it affect the past month (January to July) of the current year of 2023?
Hi FHCom
As this is an forum for Aust and NZ users, suggestions/advice for other regions may not apply. So it is best to check with the forum or distributor in your region.
With local versions of MYOB, you must rollover one year at a time. I recommend an appropriately named backup after or before each rollover, so you can restore the correct backup should you need to examine a specific year later. This is also important in case the rollover fails.
Rolling over a FY does not affect any recorded transactions. Each transaction is stored according to the transaction date. The balance sheet and P&L statements are updated with transactions based on the transaction date as well as the Last Month. So if your last month is June, all transactions dated in June 2023 will be part of the FY ended 30 June 2023.
Regards
Gavin
