Use the topics in this section when you've entered your final entries for the previous year and are ready to close the previous year.
The MYOB Accounting Plus's Start a New Financial Year feature updates your profit-and-loss amounts for the year and prepares your company file for the coming year. You are not required you to close your financial year at any particular time in your business cycle.
If you use MYOB Payroll, the payroll year must be closed before you can record the first paycheque for the new payroll year. To perform this task, you'll use MYOB's Start a New Payroll Year feature.
For a complete list of related topics, see Year-end Tasks Table of Contents.