I have hit what I think is an issue with the above. You can select any date of the year as a year end date but only a month end date as a conversion date.

I have a client with several retail shops so takes his accounts up to the nearest Saturday to his accounting reference date.

So in 2011 his year end was 29th October. We have put him on Xero as that but can only enter conversion balances at 31st Oct so have a potential problem with transactions on 30th and 31st Oct which will have to be treated as 1st Nov I think.

In a similar vein we need to prepare management figures for 4 or 5 week periods, ending on a Saturday. No problem with selecting the actual date on the P&L account but I have to produce a Balance Sheet at the end of a month.

Has any else found this as a problem or have any comments?