Financial Year Settings
Current Financial Year
Loading…Start Date
1 Jul
End Date
30 Jun
Australian businesses typically run a financial year from 1 July to 30 June. This aligns with ATO reporting periods for GST, BAS, and income tax returns.
Period Locking
Locking a period prevents any new transactions or edits to journal entries within that date range. This is typically done after month-end or year-end review.
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Financial Year History
Year-End Rollover
Start New Financial Year
Starting a new financial year will close the current year's books, roll retained earnings into equity, and prepare the system for the next year. This action should only be performed after all year-end adjustments, BAS submissions, and audits are complete.
Warning: This action is irreversible. Ensure all transactions are finalised and your accountant has approved the year-end figures.