David H

  • 1
  • Problem
  • Updated 8 months ago
  • Not a Problem
Reckon One - Accounting year end other than 30 June? No.
Just signed up for Reckon One, now i'm saying goodbye because i can't use an accounting year end other than 30 June. Small organisations and incorporated clubs may, for good reasons, have a different accounting year. Found this out the hard way. Even though the options are there in the 'Create book' set up it doesn't actually allow a different accounting year.
By the way, the old 'Quickbooks Lite' did allow this.  . 
Photo of David Hocking

David Hocking

  • 90 Points 75 badge 2x thumb

Posted 8 months ago

  • 1
Photo of Rav

Rav, Community Manager

  • 91,542 Points 50k badge 2x thumb
Hi David,
That's correct, Reckon One currently allows you to change the book start date however the financial year dates are fixed.
Photo of David Hocking

David Hocking

  • 90 Points 75 badge 2x thumb
Hi Rav, please see last comment from Kim about accounting year end.
Since i have created a book with an incorrect financial year end can i delete or deactivate my existing book and create a second one with the correct accounting year. . How do i de-activate my current book and then obtain a new one?
Many thanks,  David.H
Photo of Rav

Rav, Community Manager

  • 91,542 Points 50k badge 2x thumb
Hi David,
We could certainly look at deactivating the current book and then you can set up a new second book which you can use with different financial year details as required.

I can see that you've put through a request for this and our Reckon One team will be in touch with you today for a chat and to get things set up.

Cheers
Rav
Photo of Kim Chapman - COS Business Solutions

Kim Chapman - COS Business Solutions, Accredited Partner

  • 4,968 Points 4k badge 2x thumb
Hi Rav

Are you sure?  As I have a few books that I have previously setup with a different Financial Year end date.  One thing I am quite certain of though, if it is setup wrong from the start, then it can't be changed, but I am sure when setting up the book at the start there is a setting to to change the financial year.

Just checked one, and this is the information under Book settings for one of them.  Thus unless it has now changed, You should be able to set the financial year of a book upon setup.  This might just mean that David has to start a new book and ensure he selects the correct settings.

About this book

This book was created on 19 October 2015.

It applies to Australia and has a financial year starting 1 May

Kind Regards

Kim Chapman

www.cosbiz.com.au



Photo of Rav

Rav, Community Manager

  • 91,542 Points 50k badge 2x thumb
Hi Kim,
Yes to clarify my reply above, it was more intended for existing books that have been setup. New books going through setup can nominate financial year start dates
Photo of David Hocking

David Hocking

  • 90 Points 75 badge 2x thumb
When creating my book i made a point of entering the start year date i wanted ( not 1st July). Either i didn't save it correctly or it simply doesn't allow it. Please tell me which is correct. I haven't entered any transactions yet. Can i create a new book and then delete the existing book.. David.H
Photo of Kim Chapman - COS Business Solutions

Kim Chapman - COS Business Solutions, Accredited Partner

  • 4,968 Points 4k badge 2x thumb
Hi David

You can create a new book, pretty sure you won't get the 28 days free though.  You just have to 'turn off' your old book, it will then sit as inactive.  Maybe you changed the beginning entering transactions date or something in error.  

Just take care, when setting up the new book, there are two dates that you can change, one is the transaction start date (which can be modified later), the other is the Financial Year.  I am pretty sure it has been made a little more 'out of the ordinary' to change the Financial Year so people don't do this by accident.  See how you go, as I doubt they have removed the ability to change the Financial Year.  

Reckon One is perfect for NFP, and the differing financial Year date is something very common in that area.  Best of Luck.

Kind Regards
Kim Chapman
www.cosbiz.com.au