Im using Accountright 2017.1 and Im closing off a financial year which ended 31 March 2017
Our National Body has advised that in future our Financial year has to run as a calendar year ie from 1st January 2018 to 31 December 2018.
Consequently this financial year will be a short 8 month financial year (1st April 2017 to 31 December 2017)
I am trying to close off the last financial year and setup the next one as 8 x monthly periods.
MYOB only gives me the option of 12 periods, so when I put in the last month of the financial ie December - it assumes the year runs from 1st January to 31 December.
Is there a way for me to modify this and tell MYOB I just want 8 x monthly periods?
Any advice you can give would be appreciated. We are a nonprofit so we don't have the luxury of obtaining accountants advice.
thank you.