Wrong Financial Year
Hi, I have just registered for GST and it is showing some very high numbers that don't make sense. I just my settings and realised that I have never updated my financial year ( it is stil...
Forum Discussion
Financial year
Current financial year
2021
Last month in financial year
June
Financial Year
1 Jul 2020 to 30 Jun 2021
Opening balance date
July 2015
Cannot record transactions before
1 Jul 2015
here is the full info.
Hi mrco191,
You can only update the financial year to the next year, not go back to a previous one. If you are updating the financial year from 2021 to the current, you should be able to do it. Doing this won't change any values in your file, but it's always a good idea to make a backup if you are using AccountRight desktop before moving to the next financial year since it can't be undone. Check out this link for more info on closing a financial year.
Regards,
Genreve
