To Configure a Financial Year that Matches the Calendar Year

You use the Financial Year (GL101000) form to configure a financial year that matches the calendar year.

To Configure a Financial Year that Coincides with the Calendar Year

  1. Open the Financial Year (GL101000) form.
  2. In the Financial Year Starts On box, specify the start date as January 1 of the first financial year your company wants to keep records in MYOB Advanced.
  3. In the First Financial Year box, review the first year, which the system fills in based on the Financial Year Starts On date.
    Note: If you plan to start recording operations at the very start of the financial year, select the previous year as the first financial year. You can then enter initial account balances in the period before the first period of live operations.
  4. Make sure the Belongs To Next Year check box is cleared.
  5. To define periods, in the Period Type box, select one of the following options:
    • Month: To define 12 periods, each of which is a month long
    • Two Months: To define six equal periods per year
    • Quarter: To define four periods per year, with each period three months long
  6. Make sure the Adjust to Period Start check box is cleared.
  7. If you want the system to generate an adjustment period, select the Has Adjustment Period check box.
  8. On the form toolbar, click Create Periods.
  9. On the form toolbar, click Save.