Sage wrong year end

Sage wrong year end

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I have just started a new job and I am trying to get the books in order. Unfortunately the Year end was run at the of October instead of the end of November last year. The person responsible has been unaware of this problem and entered 10 months of entries for this year.

I need to try and rectify this - Can I rerun year end?
Can I get all this years entries out of the system is csv format ( I think the auditor has the data before the year end was run) and how easy is it to get the data back in?

Any advice appreciated....
David

Replies (6)

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By AnonymousUser
17th Aug 2007 16:48

settings
If its Line 50 quite simple to change year end to whatever you want under settings.

In terms of November last year being included in the current year, I would suggest you need to journal that months P&L movements out and put into reserve b/f.

i.e. run off TB period 1 as it currently stands and mirror a reversing journal on 30/11/06.

Obvioulsy taking care to ensure reserves b/f would then agree to the stat accounts for last year.

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By IanClark
17th Aug 2007 18:50

I'd do it another way
And I think easier.

Find the automatic journal done at year end by simply looking in the profit and loss accounts for the balancing journal, and then tracking all the journal entries through financials.

Print out a copy of the journals by transaction number.

Then change the year end back, and reverse the year end journal

You now have a sage completely the same as when they year ended it.

You can now work in the previous year and then year end whenever you are ready to complete.

Of course this assumes they did not erase any prior year entries.

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By TC1
24th Aug 2007 12:10

Change Year End in Sage???
I'm really puzzled. 3 Answers have said "just change the Year-End in Sage from Settings" .... I've used every version of Line 50 since it began, and you've never been able to change the Year-End if there's even ONE transaction in there. I've just checked Line 50 2007, and it still greys it out. So what do you all know that I don't?

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By AnonymousUser
24th Aug 2007 13:05

It's there on my version!
Settings\financial year - and although it is geyed out below there are three buttons "OK Cancel Change". Click "Change" and work through the routine.

Just to recap

Look for the year end entries (in financials) that will be titled "Ledger Year End" for the October clear down. These clear down the codes from no. 4000 to 9999, the final one is code 3200.

Change Sage to the Y/E you need - I presume you need it to say December 2005 instead of November 2005?? Month 12 will now be November 2006.

(remember it says when does your financial year *start* not end which is why so many users are 1 month out) reverse the block of journals you have identified, manually as below or using the "reversal" routine as later posted.

***The date of the journals must be the same as those you are clearing***

Do 2 or 3 backups (belt & braces) (you did do some aslo before starting this routine as well didn't you?)

Back into sage, ensure down in the bottom right of sage's window it says December 2005. Change the system date to 30/11/06.

Tools\period end\year end (don't clear the audit trail, you lose too much account history) **all three dates shown should say 30/11/06**, click OK, you will get a warning about running a year end whilst in your year end (perfect) print the journals, sigh of relief, have a drink to celebrate.

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By User deleted
23rd Aug 2007 15:32

It is even easier
I have had the same situation before and here is what I did:

First change the financial year end date to last year from settings as mentioned already. Then -

'Company'

'Reversals'

---Specify the year end date---

From the list select the year end journals (they should say year-end in the details) and click on reverse

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By TC1
24th Aug 2007 19:00

So you CAN change Year End!
Thank you, Leslie. Why didn't Sage tell me that when they introduced it?

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