Forum Discussion

Yoland's avatar
5 years ago

How to change financial year?

Hi, Our compnay has been using MYOB for a few years (but changed to MYOB online software in 2019) and I just realised that the current financial year is wrong being 2018. Though it does not affect m...
  • gavin12345's avatar
    gavin12345
    5 years ago

    Hi Yoland 

     

    'So after I do the back-up and close the FY 2018, system will automatic go to 2019 as current year?' - Yes.

     

    'Then to close FY 2019 to be able to go to 2020 as current year?' - yes - but only close 2019 if your accountant has finalised 2019 tax return and no adjustments are required for that year, and make a back first.

     

    'In one word there is no way in the system that we can manually change the current FY to be 2020?' - No

     

    Regards

    Gavin