Financial Settings - Shorten financial year
Ability to shorten a financial year end on Xero without messing up reporting.
E.g. when a company's financial year end is shortened from 30 June to 31 December so there is a 6 month transition period needed.
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Karen Hosty commented
perhaps we could urge our colleagues to vote for this idea so that the product development team will take note.
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Jane Moore commented
Disappointed that your change in basis periods guidance has not considered this adequately. With the change in tax basis periods we are moving year end from 30th April to 31st March. We already have final signed accounts for the last year to 30th April 2023 so it is essential to be able to use a short transition period. Please can this be added as a priority
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Angela Monti commented
This is really important to me as not sure how to change to a shorter reporting period and link to tax filer.
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John Bland commented
We pay for software to help make changes as sooth as possible. With the changes in basis periods, the ability to change year ends to 5 April for sole traders and partnerships is no longer something that would be nice to have. It is a necessity that we will need in the next month!
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Tracey Denton commented
Absolutely must be able to do this without messing up things. It's inevitable now more than ever that year ends are going to be changing.