End of Financial Year Checklist

MYOB Cashbook

 

First, you should complete your usual end of month procedures to ensure that all of the following transactions have been entered to the 31st of March.

 

Then:

  • Reconcile your bank account(s)

  • Complete your GST return

  • Backup your data file (instructions below)

  • Send your information to us (instructions below)

 

Backup your data file

 

We recommend that you make two sets of backups. Store one backup in a secure location away from your business.  We would be happy to store an electronic backup in the office if desired.

 

To make a backup:

  • Choose Backup from the File menu.

  • Select Back up Company File and click Continue.

  • MYOB may begin the process of checking your company file for errors depending on the settings chosen.

  • A dialogue box appears, allowing you to enter a name and select a location for the backup file you’re about to create.   Select the right location i.e. a, c, d, e or f drive.

  • Take a note of the file location and name.

  • Click OK to create the backup.

 

Send your information to us

 

Either bring the backup CD or USB stick into us or send the backup to us via email. 

 

To send a backup via the email:

  • Create a message as usual:  to ruth@bm.co.nz

  • Insert an attachment,  (click on the “paperclip symbol”, or “Insert / file”)

  • Enter the relevant drive when you saved the backup in the “Look in” field. (i.e. a, c, d, e or f drive)

  • Select the relevant file name

  • Click “Insert”

  • In the body of the message, note the name and version number of the MYOB package you are using.

  • Send message, as usual

 

Start a new financial year

 

  • Click the File drop down 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.

 

Here is a summary of what happens when you start a new financial year. For the purposes of this summary, let’s say you have a calendar financial year (January to December) and you are ending 2015 and beginning 2015.

  • MYOB Cashbook replaces last year’s (2015) historical monthly totals with the monthly totals of the year just completed (2015).

  • 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.

 

 

BM Accounting Limited