Hi everyone, as mentioned earlier our team have been making change across Xero to enable user to change their year end in their Xero organisation. We recently made a change to Financial settings so you can add start and end dates to different periods. Currently this is only available to users with the UK version of Xero however we are looking at rolling this out across all versions over the coming months.
It's also worth noting that atm it's only possible to set a longer transitional period (12+ months). Our team are working on shorter periods (<12 months) which we'll be providing in the near future.
This change impacts multiple areas of Xero. As a reminder from our last post -
Fixed assets will draw on this information, to prevent any loss of historic information when your year end changes. Everything will automatically be calculated for you based on the period start and end dates you set in Financial Settings. It's important to note that Fixed assets will only be un effected when you create a transitional period through the Financial Settings.
Similarly in Reporting - All historic reports will be protected. And you’ll have accurate comparison periods even across varied financial years.
In Xero Tax, you’ll be able to enter transitional profit, and track this across five years.
We'll keep you informed of further changes for this here.
Hi everyone, as mentioned earlier our team have been making change across Xero to enable user to change their year end in their Xero organisation. We recently made a change to Financial settings so you can add start and end dates to different periods. Currently this is only available to users with the UK version of Xero however we are looking at rolling this out across all versions over the coming months.
It's also worth noting that atm it's only possible to set a longer transitional period (12+ months). Our team are working on shorter periods (<12 months) which we'll be providing in the near future.
This change impacts multiple areas of Xero. As a reminder from our last post -
Fixed assets will draw on this information, to prevent any loss of historic information when your year end changes. Everything will automatically be calculated for you based on the…
Please get this done immediately. Xero cannot possibly have such a brutal approach to change of year end dates. The rework required for small businesses is unacceptable. There are much more important reasons to change the year end date than a major software flaw by Xero.
I consider this as a major design issue that needs immediate fixing. At the very least, depreciation should not be reversed beyond the last financial year.
Malcolm Elliot
supported this idea
·
Please get this done immediately. Xero cannot possibly have such a brutal approach to change of year end dates. The rework required for small businesses is unacceptable. There are much more important reasons to change the year end date than a major software flaw by Xero.
I consider this as a major design issue that needs immediate fixing. At the very least, depreciation should not be reversed beyond the last financial year.