I can share some insights for a smooth transition, @TAConsulting.
Yes, you can record the bills and expenses for this fiscal year to include it in your reports.
It's also best to consult an accountant or tax advisor to get advised on how to handle your books. This is to ensure that your books in the previous and current fiscal years are accurate after the transition.
Here's more information on how to fiscal year in QuickBooks Desktop:
- Click the Company menu and proceed to My Company.
- In the COMPANY INFORMATION box, click the edit (pencil) icon.
- Go to the Report Information tab.
- Set up the Fiscal Year.
- Click OK to save the information.
Check this QuickBooks year-end guide article for more information about this.
If you have more questions about your bills and expenses, just click the Reply button below. Have a good one!
