My End of year is January - December and I'm wanting to add a Category,(Chart of Accounts) into Long Term Liabilities.
The problem is the liability doesn't start until April. If I add anything into that particular Category, it starts calculating from January. My question is:
How can I add an amount into a long-term liability Category (Chart of Accounts) to start calculating from April not January?
Can anyone help me here?
Hi anyadgray,
Totally get why that's a bit confusing. MYOB can be a bit "keen" and start tracking from the start of the financial year. Great question though! Hopefully one of our legends here in the community can jump in and share how they've handled something similar. That said, for something like setting up a long-term liability that only kicks off from April, your best bet is to have a quick chat with your accountant. They'll be able to guide you on the cleanest way to set it up (like using opening balances or journal entries) so your reports stay spot on.
Regards,
Sai
Thanks for that, Much appreciated. I'll wait and see if anyone else can help also :)
