Forum Discussion

Terrie2's avatar
Terrie2
Experienced User
3 years ago

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 b...
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  • LRBooks61's avatar
    LRBooks61
    3 years ago

    Hi

     

    MYOB accountright usually runs in a 3 year cycle

    Last year, this year and next year therefore 20,21,22, if you can't get a P&L for 2023 I suggest that you need to roll over 2020 financial year

     

    Hope that helps

     

    Lisa

Terrie2's avatar
Terrie2
Experienced User

Hi Gavin

 

Yes you are correct it is set at 2021. We only started using MYOB 1/07/2021.

Do I close off 2021 to have it roll to 2022, which will then let me access 2023 reports?

gavin12345's avatar
gavin12345
Ultimate User
3 years ago

Hi Terrie2 

 

Yes. FY 2021 runs from 1 July 2020 to 30 June 2021. And if you started 1 July 2021, the FY could have been 2022 from the start.

 

Regards

Gavin

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