Can I change the year end date retrospectively?

Support
1

I started using your system a couple of months ago and I inputted a year start and end date of 6 April 19 to 5 April 2020 which my accountant wants me to change to 31 March 2019 - 1 April 2020. I thought I had managed to do this but he tells me that in the trial balance it then shows everything as a brought forward figure. Help please! Thanks

2

Hi @MrsSimple

Yes, you can change the date without any issues.

The “Opening Balance” you see on a Trial Balance report is simply the closing balance from the previous year. If this is showing when you don’t expect a balance, if you go back and look at reports for the previous year, there’s likely to be something there causing the figures to appear.

The Chart of Accounts report may be a good start, as this shows you all the activity on nominal accounts for the selected period.

Hope this helps.

3

Hi Matthew thanks. Can you just run me through the process of where I change the date to make sure I am doing it correctly? Many thanks

4

Hi Matthew

This was my first year of accounts on your system so there wont be any data for previous years? So still confused, are you able to look at the account? Thanks

5

Hi @MrsSimple

If you go to Reports >> Chart of Accounts and set the dates to a range prior to your start date, this should show any details of figures that would cause this opening balance.

For example, if your start date of 1st March 2020, change the date range so the end date is 29th February 2020.

6

This topic was automatically closed after 7 days. New replies are no longer allowed.