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leighcowan
Level 1

I only recently converted from MYOB Account Edge. At the end of every financial year in MYOB, you have to purge transactions and start a new FY... is there a QB process?

 
1 Comment 1
Ken - Product Champion
Content Creator

I only recently converted from MYOB Account Edge. At the end of every financial year in MYOB, you have to purge transactions and start a new FY... is there a QB process?

Hello Leighcowan,

 

Thank you for getting in touch. When it comes to end of financial year in QuickBooks Online, this EOFY checklist may assist with checking your books and readying your tax return.

 

If you are also using payroll, this guide on EOFY reconciliation within the payroll system may also help. Once you have reconciled your payroll, you can then lodge a Finalisation Event in order to close off payroll for the year.

 

Based on customer feedback, we have also compiled a list of frequently asked questions regarding this time of year. 

 

If you need help finding a QuickBooks Online certified accountant or bookkeeper, you can search for one near you.

 

I hope this helps.

 

-Ken