Profit & Loss Date Range Reports

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Profit & Loss Date Range Reports

Hi

I am currently trying to get a Profit & Loss report for January 2020 to March 2020 and it keeps telling me

'ERROR please ender a valid date.

 

I have gone and checked in Setup, Company Information to check the Current Financial Year and it is 2018.

 

In Reports for Profit and Loss when I go to filter date range it is showing:

Last Year [FY2017]

This Year [FY 2018]

Next Year [FY 2019]

Therefore it won't allow me to report for 2019-2020.

 

I am confused because when I go into close a financial year it shows the following:

"The financial year you are closing is 2018, running from 01/07/2017 to 30/06/2018"

Technically I should be able to report for 2019-2020

 

Am I missing something?

 

I have attached screenshots to help with this.

 

Help with this would be greatly appreciated and Thanks in advance.

 

Cheers

Kathy

 

1.Screen Shot 2020-04-02 at 8.54.40 pm.png
2. Screen Shot 2020-04-02 at 9.17.26 pm.png
3. Screen Shot 2020-04-02 at 9.27.52 pm.png
4. Screen Shot 2020-04-02 at 8.53.00 pm.png
6 REPLIES 6
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Ultimate User
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Re: Profit & Loss Date Range Reports

Hi @OzCombined 

 

If This Year is FY 2018, then the latest period you can report on is Next FY which is FY 2019 (this is from 1 July 2018 to 30 June 2019). As Jan 2020 is after this, you cannot generate the report. You will need to change the current FY to 2019 before you can report for FY 2020 (1 July 2019 to 30 June 2020).

 

Regards

Gavin

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Re: Profit & Loss Date Range Reports

Hi Gavin

Thank you for getting back to me in regards to this issue.

How do I change current year to 2019 without closing 2018?

I was under the impression that you can have 3 years going without closing.

Cheers

Kathy

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Re: Profit & Loss Date Range Reports

Hi @OzCombined 

 

You can't change to FY 2019 and keep FY 2018 open - MYOB doesn't work that way and never has. Once you have competed all FY 2018 transactions and lodged tax return, you can safely close FY 2018 and roll to FY 2019 - check with your accountant if in doubt. This will allow you to generate a report for the FY 2020.

 

Another option if you can't close FY 2018 is to create a copy of your file, change that to FY 2019, generate your report for FY 2020 and then delete this copy of the file. 

 

Regards

Gavin

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Re: Profit & Loss Date Range Reports

Thanks Gavin

I may do the latter, as Accountant isn't ready to give EOFY adjustments for 2018 yet with all the Covid 19 stimulus packages etc that he is busy with.

So your second option looks like a way to go.

Thank you for your time.

Cheers

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Re: Profit & Loss Date Range Reports

Hi @OzCombined 

 

Wow, if your accountant isn't ready to finalise 2018, perhaps it's time to find a new accountantSmiley Happy June 2018 was almost 2 years ago and ATO lodgement deadline for FY 2018  was April 2019.

 

For most even FY2019 will be overdue by the end of April 2020.

 

Regards

Gavin

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Re: Profit & Loss Date Range Reports

HI Gavin

He has done 2018, sorry if I didn't make that clear.

Just end of year adjustments are not ready due to many extenuating circumstances that have occured with his personal life and business and us being affected by the bushfire season.

I assure you he is up to date with all our lodgements with the ATO.

Thank you for your advice and concern.

Cheers

Kathy

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