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Financial Year Roll Over
Hi, I closed the Financial year back in Aug this year. Today I realised there are some sales pending payment and adjustment from Feb 2019 and June 2019. We are waiting for full payment on one of ...
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I have rolled back a year and successfully closed the sale from previous year and opened a new sale for the same customer on today's date and applied credit to it. So far so good.
I went and checked the BAS/GST report for that time period Jan 19 to Mar 19 (the sale was dated feb 19) there is no change in any amounts in the BAS/GST.
What other effect could this sale have on my accounts. I have tried reaching out to my accountant but they are away for XMAS/New year period.
Now i am planning to close the year and move to this financial year but thought I will ask before I do that.
Hi yoshu
The only other change that would have on your account would be the actual accounts themselves i.e. the debits and credits. This could be seen via the Account Transactions Accrual report.
I would recommend checking with an accountant to ensure that the debits and credits match what you are trying to achieve with recording those transactions.
