Forum Discussion

Contributing User

2 years ago

Current year profit and loss statement

Hi, Why am I unable to create a P&L for the current period (From 01-07-2023 to 14-07-23)? I can do this in web browser, but not in MYOB software. Is this an error on our end or a glitch in MY...

KevinR
2 years ago
In MYOB terms 'this year' is the current running financial year, 'last year' is the year prior to that and 'next year' is the next year to the current running financial year.

For you to be running p and l for 2023-24, it has got to be in the 'next year' status. 'This year' should be 2022-23 and 'last year' means 2021-22. Only when 2021-22 financial year is closed, 2022-23 will be in 'this year' status and 2023-24 will be in 'next year' status. So close financial year 2021-22 to run p and l for 2023-24 financial year.

Hope this helps. Please let other users know if this is right answer to your question by accepting this as a solution if this solved your issue.

Leneth_A

Former Staff

2 years ago

Hi Rambo

Thanks for your post and Welcome here in the Community Forum. I hope you will find it to be a great resource and place of information.

Generally, you should be able to access these reports when you click on Reports >> Accounts and change the date and Financial Year of the data you want to display. Also, you may try changing the dates of the reports by month. If you're receiving an error, could you please take a screenshot so I can look into it further?

Please hide/remove any sensitive employee/business details from screenshots posted publicly.

If my response has answered your enquiry please click "Accept as Solution" to assist other users find this information.

Cheers,
Leneth

Rambo
Contributing User
2 years ago
Hi Leneth_A

Thank you for being so helpful.

I tried, but MYOB does not let me select the current FY24. Please see the attached snapshot for your review. I can select Next Year(FY23) and This year(FY22), but not FY24. Do I need to adjust something in the backend?

Thanks
- KevinR
  Trusted Cover User
  2 years ago
  In MYOB terms 'this year' is the current running financial year, 'last year' is the year prior to that and 'next year' is the next year to the current running financial year.
  
  For you to be running p and l for 2023-24, it has got to be in the 'next year' status. 'This year' should be 2022-23 and 'last year' means 2021-22. Only when 2021-22 financial year is closed, 2022-23 will be in 'this year' status and 2023-24 will be in 'next year' status. So close financial year 2021-22 to run p and l for 2023-24 financial year.
  
  Hope this helps. Please let other users know if this is right answer to your question by accepting this as a solution if this solved your issue.
- Leneth_A
  Former Staff
  2 years ago
  Hi Rambo
  
  Thanks for letting me know.
  
  Generally, the reason why a profit and loss report cannot be generated is when you haven't finalised the previous financial year. You would need to check the current financial year when you go to Setup >> Company Information. You would need to finalize the previous financial year before it will allow you to select FY24 for the profit and loss report.
  
  Please let me know if you need further help.
  
  If my response has answered your enquiry please click "Accept as Solution" to assist other users find this information.
  
  Cheers,
  Leneth
- Princess_R
  MYOB Moderator
  2 years ago
  Hi KevinR
  
  Thank you for sharing this detailed information about running the Profit and Loss with the correct financial year option. This will be a great help to other users having the same issue. We really appreciate you taking the time to post your insights.
  
  Cheers,
  
  Princess