Forum Discussion

Rambo's avatar
Rambo
Contributing User
2 years ago
Solved

Current year profit and loss statement

Hi,   Why am I unable to create a P&L for the current period (From 01-07-2023 to 14-07-23)? I can do this in web browser, but not in MYOB software.   Is this an error on our end or a glitch in MY...
  • KevinR's avatar
    KevinR
    12 months ago

    In MYOB terms  'this year' is the current running financial year, 'last year' is the year prior to that and  'next year' is the next year to the current running financial year. 

     

    For you to be running p and l for 2023-24, it has got to be in the 'next year' status. 'This year' should be 2022-23 and 'last year' means 2021-22. Only when 2021-22 financial year is closed, 2022-23 will be in 'this year' status and 2023-24 will be in 'next year' status.  So close financial year 2021-22 to run p and l for 2023-24 financial year.  

     

    Hope this helps.  Please let other users know if this is right answer to your question by accepting this as a solution if this solved your issue.

Leneth_A's avatar
Leneth_A
MYOB Moderator
2 years ago

Hi Rambo

 

Thanks for your post and Welcome here in the Community Forum. I hope you will find it to be a great resource and place of information.

 

Generally, you should be able to access these reports when you click on Reports >> Accounts and change the date and Financial Year of the data you want to display. Also, you may try changing the dates of the reports by month. If you're receiving an error, could you please take a screenshot so I can look into it further?

 


Please hide/remove any sensitive employee/business details from screenshots posted publicly.

 

If my response has answered your enquiry please click "Accept as Solution" to assist other users find this information.

 

Cheers,
Leneth

  • Rambo's avatar
    Rambo
    Contributing User
    2 years ago

    Hi Leneth_A 

     

    Thank you for being so helpful.

     

    I tried, but MYOB does not let me select the current FY24. Please see the attached snapshot for your review. I can select Next Year(FY23) and This year(FY22), but not FY24. Do I need to adjust something in the backend?

     

    Thanks

    • KevinR's avatar
      KevinR
      Trusted Cover User
      12 months ago

      In MYOB terms  'this year' is the current running financial year, 'last year' is the year prior to that and  'next year' is the next year to the current running financial year. 

       

      For you to be running p and l for 2023-24, it has got to be in the 'next year' status. 'This year' should be 2022-23 and 'last year' means 2021-22. Only when 2021-22 financial year is closed, 2022-23 will be in 'this year' status and 2023-24 will be in 'next year' status.  So close financial year 2021-22 to run p and l for 2023-24 financial year.  

       

      Hope this helps.  Please let other users know if this is right answer to your question by accepting this as a solution if this solved your issue.

    • Leneth_A's avatar
      Leneth_A
      MYOB Moderator
      2 years ago

      Hi Rambo

       

      Thanks for letting me know.

       

      Generally, the reason why a profit and loss report cannot be generated is when you haven't finalised the previous financial year. You would need to check the current financial year when you go to Setup >> Company Information. You would need to finalize the previous financial year before it will allow you to select FY24 for the profit and loss report.

       


      Please let me know if you need further help.

       

      If my response has answered your enquiry please click "Accept as Solution" to assist other users find this information.

       

      Cheers,
      Leneth

    • Princess_R's avatar
      Princess_R
      MYOB Moderator
      12 months ago

      Hi KevinR 

       

      Thank you for sharing this detailed information about running the Profit and Loss with the correct financial year option. This will be a great help to other users having the same issue. We really appreciate you taking the time to post your insights. 

       

      Cheers,

      Princess