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Accounting Setup & Maintenance: Changing the financial year-end for first year of incorporation company

The financial year ends in May, and need to change it to August. Already had a backup before the year-end processing and keyed in the following month's information.

Updated over a week ago

Before changing the financial year, ensure you have a backup before Year End Processing and follow the steps below:

  1. Create a new company.

  2. Restore the backup before Year-End.

  3. After restoring it, Go to Setup General Setup, Company Profile, and change the right Accounting Period.

Example:
Closing Date 31/05/2023, starting period 1, Closing Period 15, this accounting year 01/06/2023 - 31/08/2024.

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