This is the first year we have used Sage and I have a question about the year end process.

Our year end is 30 April. I have not changed the year end date yet to 2021.

What I am not sure about is what the effect of changing the date will do other than the option to lockdown the period.

The reason I ask this is that when I run the P&L report it is taking account of the change in Financial Year.

So if I choose last financial year it correctly ran the report for 19/20 without changing the date in the system.

I am happy with this but I am wondering what impact changing the EOY to 2021 will have on reports. Will 19/20 still be seen as the previous financial year?

I realise I can run reports for custom dates and that the dropdown on the reports screen is just for convenience but I would like to understand what the impact of changing the EOY date has in the system.

Also I am assuming that once changed it should not be changed back?

Thanks

Steve