In Hong Kong, you can submit accounts for a period up to 18 months for the first annual return (in my case I want 15 months). Is this possible in MYOB? When it comes to reports, I only seem to be able to select e.g. current FY, previous FY.
I loaded the balances (P&L and BS) at the end of six months (ie 31/12) as my opening balances for the 1/1. I kept detail records and the accountants and the tax office had no problems. It has consued the accountants that have been here since until it is explained to them. The accounts for this company had been kept in Australia under a 1/7-30/06 FY and we changed them to line up with HK. I would outline your intentions to your external accountant first and get their agreement in principle. You are correct about the reports.
Uisng HK Premier and we have PRC version as well.
Posts: 50 | Location: Shenzhen China | Registered: Thu August 31 2006
Thanks for the info. Ran through this over the weekend and I have been able to pull the following reports:
* GL detailed trial balance for the full period (1 jan 07 - 31 mar 08) * Balance sheet at 31 mar 08 * P&L income statement for Jan07-dec07, and jan08-mar08 and summed the two in excel * Statement of cash flow for Jan07-dec07, and jan08-mar08 and summed the two in excel
Waiting to hear back from the accountants as to whether this is OK.