Forum Discussion

MTS26's avatar
MTS26
26 days ago

Setting monthly period close dates using 5 4 4 weekly accounting cycle

I am new to the role & MYOB.

The business has a 5 4 4 weekly cycle. However they never kept to a regular weekly cycle across years.

 

How do I & can I define the month end dates for a period?

A PL statement can have a filtered date while a PL Multi period is a filter by month.

For example using a start date of 1/7/24 the first month end date is 4 August 2024

 

If that is not possable to change and update period dates can I define the period dates in reporting for PL multiperiod

 

(the 5 4 4 cycle is requires a changes every year to the last day of the financial year and 1 extra week added every 5 years to the last month in the year.)

 

  • Earl_HD's avatar
    Earl_HD
    MYOB Moderator
    23 days ago

    Hi MTS26

    I understand that you're trying to manage a 5-4-4 weekly cycle and need to define month-end dates for reporting. In this case, we recommend consulting your accountant. They can offer precise guidance on handling reporting and period adjustments for your specific business cycle, ensuring both compliance and accuracy.

    Feel free to post again, we're happy to help!

    Regards,
    Earl