P&L Reports
How do companies run a current financial year profit and loss report if previous year is not closed. Our business does not close its financial year for a couple of months into new year, however the business needs to track the P&L each month and cannot until previous year closed ? This is our first financial year using MYOB and previous accountign package used, we were able to run all reports for current year before closing off. Boss not happy Appreciate responsesSolved1.5KViews0likes5Comments
Balance sheet main account not balancing
I have just recently installed MYOB 2 months before the end of our financial year (which falls dec 31st). My opening balance for the trading account is correct as per bank statement for Nov 1st, i have reconcilled nov and dec bank statements and my bank statement figure was correct and account was reconcilled. BUT - the balance on the balance sheet does not marry up with the reconcillation report and i have cross referenced my trade account accruals report against the bank statement and all that balances as well. Any ideas where i could be going wrong? Cheers, MandySolved4KViews0likes12Comments
