Incorrect financial year
Hello, our MYOB Business Pro software is still reporting us operating in the 2022 Financial Year (currently June 2024). I am worried if I Start a New Financial Year for 2023, and again for 2024 now ...
Forum Discussion
Hi Tanbrad
The transaction date determines what Financial Year a transaction is posted to. It is up to the user to Close a Financial Year. This is best done after your accountant has finalised tax matters for that financial year, which is usually well after the actual financial year is over. So provided your 2022 and 2023 tax returns are lodged, it is safe to roll the FY to 2024. Transactions will not be affected by this process.
Regards
Gavin
gavinw222@gmail.com
