Starting New Financial Year
Hello, if the current financial year showing has not been updated for a few years can this be fixed without affecting any of the past or present data recorded. I have MYOB Lite.
Forum Discussion
Hi MargaretF7,
Good question! There’s actually no option in MYOB to change the financial year directly to a specific FY, the only way to move things forward is rolling over to the next financial year. Nothing major happens to your file, but just a heads up: figures for current and retained earnings get updated to match the new year.
If you want to see how it all works, have a look at the “End of Financial Year Tasks” article, especially the part about “Start a new financial year” it’s got all the details you’ll need.
Regards,
Genreve
