The company’s fiscal periods can be changed by shortening the current year. This will then start ‘Next Year’ one month past the shortened year.
This can only be accomplished if there are no transactions beyond the last month of ‘Next Year’ If there are transactions beyond next year, then a year end close must be first performed on ‘Last Year’. This then opens ‘next year’ to move transaction into when the year is moved,
To Change the year, go to Company settings->General Ledger->Fiscal Periods and change the date. When the saved button is clicked a reorganization of the data gets performed to reset to the new year.
One the year is shortened you will notice that “This Year” has less periods,
See this video for the procedure