Sage Roll Over

Sage Roll Over

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I am  not a Sage Guru but have been using a client's Sage accounting package whose Company year end has been extended to 16 months - 1st year period of trading from 1/9/10 to 31/12/11. I know Sage can only cope with 1 whole complete year at a time so my question, or thinking, is that the year end is first completed for 31st August 2011?

Do I then carry out a change of year end exercise to 31 December? I assume there is a standard routine, but will the P&Ls all go back to 1/1/11?  How does it treat opening reserves?

Presumably key is to keep backups of everything....

All answers and guidance gratefully received.

CM

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By johndon68
06th Sep 2011 13:43

Sage Financial Year

Sage's Year End dates are fixed so, at the moment, if the year end date is set to August 2011 and you run a year end, the year end date will change to August 2012, you can't just run a year end as as December 2011 as Sage will actually run the year end as at August 2012...

The only way to get Sage to run a year end at the end of December 2011 is to set the start date to 1st January 2011.  Depending on the exact version of Sage 50 being used, you can do this by going to Settings -> Financial Year and selecting 'Change'.

When the change is made, the months September - December 2011 will show as 'brought forward' in the nominal and financial reports but, come the year end in December 2011, all the figures will be correct.

If you don't have a version of Sage 50 that allows for the change, you have 2 choices:

1. Send the data to Sage to make the change - this can take 4-5 days and costs around £150+VAT.

2. Alternatively, I offer a Financial Year Change service for around half what Sage charge with a typical turnaround time of 2-3 hours.

HTH

John

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