Starting a new financial year

https://help.myob.com/wiki/x/0oii

ANSWER ID:2923

You should start a new financial year only when all the transactions and balances have been finalised for the current financial year. This is because once a new financial year has been started, you cannot make entries in the closed financial year.

To start a new financial year

Take a backup of your data file (File menu > Backup). Store your backups securely. If you want to view your transaction data in the future you will need to be able to restore this backup.
Go to the File menu and choose Start a New Year. The End of Year Rollover wizard appears.
Follow the prompts that appear in this step-by-step process.

When starting the new year, if you receive a message about "A batch of unposted transactions exist", see 'A batch of unposted transactions exist' message when starting a new financial year.

What happens when you start a new financial year

MYOB Cashbook replaces the previous year's historical monthly totals with the monthly totals of the year just completed.
MYOB Cashbook zeros the balances of all your accounts as of the beginning of the new financial year except for bank account balances.
Unreconciled transactions will still be available in Bank Reconciliation.

Cashbook user guide

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ANSWER ID:2923

What happens when you start a new financial year

Need more help?

MYOB Cashbook User Guide (PDF)

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