Change your accounting year-end date

This article explains the process for changing your accounting year-end date in FreeAgent.

You can either change your first accounting year-end date in FreeAgent or add a change of accounting period. If you're unsure whether you need to change your year-end date in FreeAgent, please speak to your accountant.

Please note:

How to change your first accounting year-end date

To change your first accounting year-end date in FreeAgent, select 'Settings' from the drop-down menu under your business name and then select 'Accounting Dates'.

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In the Date Settings section, select the new year end date using the date picker and select ‘Save Changes’ at the bottom of the screen to complete the process. The new date will be used by FreeAgent to set the year end for future years too.

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How to add or update a change of accounting period

Select 'Settings' from the drop-down menu under your business name and then select 'Accounting Dates'.

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Select the ‘Accounting Periods’ tab.

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You can either add, edit or remove a change of accounting period

Adding a change of accounting period

To add a change of accounting period, select ‘Add a change of accounting period’.

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Select a suitable year from the dropdown for 'Start of accounting period', which is based on the previous accounting period end date recorded in FreeAgent. Enter a date for the 'End of accounting period' you wish to record and then select 'Save'.

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Depending on the amount of data in your account, it may take a while for FreeAgent to process the change. Typically, this will take a few minutes.

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Once you’ve added a change of accounting period, your accounting reports and period filters will be updated to reflect the new dates.

Editing a change of accounting period

To edit a change of accounting period, select ‘Edit’ to the right of the period you want to update. If you’ve added a subsequent change of accounting period, you’ll need to remove the later period first before you can edit the earlier period.

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Edit the dates as necessary and select ‘Save’ to complete the process.

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Removing a change of accounting period

To remove a change of accounting period, select the cross to the right of the period you want to remove. If you’ve added a subsequent change of accounting period, you’ll need to remove the later period first before you can remove the earlier period.

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Select ‘Yes, remove this change’ in the pop-up window to complete the process.

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