Change Fiscal Year halfway into year
I have a client who would like to change their fiscal year halfway through.
They were operating April-Mar but would now like to begin their FY from Sep-Aug.
They have posted transactions from March until now (September) and have a large volume of data – mostly cash sales.
I have migrated all transactions into Mar21 as this will be their final period. Is this correct? Also, I am unsure how to set up the rest of the FY 2021 and FY 2022
- Run a search on all transactions posted from 1st April to present
- Change all transaction posting periods to Mar 21
- Delete FY 22
- Extend FY21 to 31/8/21
- Move all transactions back to respective posting periods
- Create a new financial year from Sept 21- Aug 22.