Forum Discussion

RB28's avatar
RB28
Experienced User
3 years ago

Closing off multiple financial years

Hoping someone can help me with a problem I'm having when trying to close multiple financial years. The file I'm working in hasn't been rolled over since 2014. I have gone through the steps and it ap...
  • gavin12345's avatar
    gavin12345
    3 years ago

    Hi RB28 

     

    During the Close a Financial Year process MYOB prompts you to make a backup. Making a backup is separate to the Close a FY process. Some users seem to think the backup process also closes the FY - it doesn't. After you have completed the backup, complete the Close a FY process agin and skip the backup as you already have one.

     

    If your file is online, problems can arise. Log out of the file and log back in. If the FY hasn't changed, make another backup - this is known to also update the file with the correct FY.

     

    Regards

    Gavin

gavin12345's avatar
gavin12345
Ultimate User
3 years ago

Hi RB28 

 

During the Close a Financial Year process MYOB prompts you to make a backup. Making a backup is separate to the Close a FY process. Some users seem to think the backup process also closes the FY - it doesn't. After you have completed the backup, complete the Close a FY process agin and skip the backup as you already have one.

 

If your file is online, problems can arise. Log out of the file and log back in. If the FY hasn't changed, make another backup - this is known to also update the file with the correct FY.

 

Regards

Gavin

  • RB28's avatar
    RB28
    Experienced User
    3 years ago

    Hi Gavin,

     

    Thank you so much, I closed off the financial years one by one. Went through the whole process, exited the file, went back in, went though the closing off the financial year again without backing up the second time, exited the file again & when I went back in it had gone to the next financial year.

     

    Simple solution, just a little more time consuming but solved my problem.

     

    Thanks again,

     

    Renee

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