changing Year End

changing Year End

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Hi I have Sage Accountant system and wish to change my year end date but I dont know how

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By Euan MacLennan
24th Mar 2014 16:38

Call Sage Support

It is why you pay all that money to Sage and would have taken less time than signing up as a member on this site.  I don't use Sage, but I believe that you need to have a fairly recent version of the program to be able to change the start date.

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By JKnight
24th Mar 2014 22:17

The ability to change the financial year in Sage 50 Accounts depends on the version and variant of Accounts that you are using.

If you are asking about running the year-end procedure that is set out in the user guide.

 

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By Michelle Chilton
24th Mar 2014 22:46

Change of year end date

I use a fairly old version and not sure if later versions have improved but on my version sage cannot deal with accounting periods of longer than 12 months.  To extend you need to do a regular year end at the end of the first 12 months and then do a further year end with your new year end date.  You will need trial balances for the two year end dates and add them together for P&L balances for the full extended accounting period.

If you are looking to shorten your year end then you can merely process a year end with the revised earlier date.  Go into Financials after and check that your new accounting year then shows the desired months.

Have done this several times before and has always worked ok but not for a while. 

Always do a full back up first so you can get back if you experience any problems.

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By User deleted
24th Mar 2014 23:33

Unless you need detailed MI ...

... rather than the ytd figures I prefer to keep the year open when I extend, that way your accountant only has one TB to deal with and not 2. 

Just my preference, if your accountant wants to do it as two they have the choice, but if you have done a twelve month they cannot undo (they can of course undo the year end journal and have the data swept up in the second year end, but that gets messy.

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