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Business Basics V1 - add journals after a closed off year?

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Business Basics V1 - add journals after a closed off year?

Hi team,


We had been using Business Basics V1 (6.3) for our accounting software in the past, and we have since moved to AccountRight.


There has been a query regarding adjusting journal entries for the financial years 2017 and 2018, both of which I had ‘closed off’ in Business Basics. Is there any way to post journals in 2017 so the transactions can be run? If I try to add a journal prior to the ‘closed off’ year, the system will not allow me to as I “may not enter transactions before the beginning of your financial year.” Is there a workaround to this?


Subsequently, there has been another query about whether if I change the account codes for an existing account code to a different one, will the system move all the transactions to the new account code, or do I need to do journals to transfer the data?


I realise this may be a difficult query to answer as Business Basics is obsolete, but I am hoping that someone may know how to rectify this issue.

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Re: Business Basics V1 - add journals after a closed off year?

Hi @jzfoong 


Sorry to see that no one has offered assistance with your query.

AccountRight 2022 allows users to enter a transaction in a previous financial year if required. However, that financial year would need to have been rolled in that version. For example, if you were using a previous product and migrated the company file to that AccountRight 2022 range, it will likely not have the markers required to have that financial year open to allow for those transactions.


Should you be in a situation where you do need to enter a transaction in a closed financial year but are unable to do so due to migration then you do have two options.

  • Look at recording that transaction into the current financial year - would recommend speaking to your accounting advisor on that as there are implications on that year's reports.
  • Restore a backup prior to closing the financial year, record that transaction, and then re-migrate the file along with re-enter the data entered into the current file. This may not be a solution for everyone and every situation.

To answer your other query relating to changing account codes. if you were to change the actual account number i.e. Accounts>>Accounts Lists>>Select the account and change the number, the transactions already recorded will have the new number listed. If you generated a new account. those existing transactions would have the original account number on them and would need changing/recording a balance to move the account balance across to the new account.

Kind regards,

MYOB Community Support

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