Is there a Period 13 in Sage Line 50?

Is there a Period 13 in Sage Line 50?

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In my last company, in our bespoke accounts package, we set up 13 periods in a year. the periods 1-12 added together would equal the management accounts, and all audit adjustments would go into period/month 13 so that if you ran 1-13, you'd get the audited accounts. We found this really useful, especially as the periods 1-12 could be locked down and period 13 left open to post back all prior year stuff as it came in and it could be closed when the audit was completed.

For my new company, we've just got Sage Line 50 Pro, the new one and it's replacing an awful old bespoke manufacturing system with finance bolt-on. I'd like to do what I'm used to, i.e. have a 13th period, but can't find this function. Am I missing something obvious or is there a better way? What do you do?

Thanks,
Violet Purle

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By User deleted
15th Jun 2008 07:49

Alternative period accounting with Sage 50
Sage 50 is VERY much set up to do monthly accounting, however, you CAN do other periods.

It is not complicated, just use the "transactional" versions of TB, P&L and BS in the financials reports section.

The only issues are that budgets, and some things like accruals and prepayments and depreciation are set up to be run monthly, so you would want to do those manually.

There are other solutions, using prior year and so on.


Sage 50 is an OPEN ITEM accounting system so it does not lock down accounting periods. You need to use different controls when using an Open Items system.

If you have not used open item accounting before then it is worth reading up a little.

This might help.

http://support.makingithappen.co.uk/masect1.htm#openitem

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By steve tees
13th Jun 2008 15:22

Sage 200
Whoever sold your company Sage 50 clearly didn't do a proper requirements review as Sage 200 (previous incarnations as Line 100 and MMS) will allow a 13th period..
It's a lot more money, I'm afraid, but there are many more features.

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By User deleted
12th Jun 2008 22:58

Not very adaptable
In my experience, this is an area where Sage is weak.

Many of my clients that use Sage prepare monthly management accounts, closing down each period as these are completed. I am not aware of any facility to create a 13th period. What normally happens is that any adjustments are made as opening balance adjustments to the profit and loss reserve/balance sheet on the first day of the new financial year, as the audit is not always complete until 2-3 months following the year end.

This, in my experience, has always proved satisfactory for my clients and although many of them would probably appreciate this 13th period, they are not at much of a disadvantage for not having it.

You can of course, as was commented previously, get your auditors in early and close down once they have finalised their adjustments, however they would not be able to do this for every single client because 70% will have March year ends!

Sorry not much help, blame Sage!

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By User deleted
12th Jun 2008 21:58

No period 13 in Line 50
I've never found it anyway.

We post year end adjustments before doing the 'year end' routine on sage. We have our audit within 3 weeks of year end so can afford not to have full information for the first month. (you can of course perform nominal activity analysis but not produce P&L and variance reports for a different period).

However, otherwise you can still post to last year after performing the year end routine, You will get an annoying message come up every time you do so (as you do when you're posting in the new year before performing the year end routine). You will then be left with a Prior year adjustments box at the bottom of the sage balance sheet.

Sorry it's probably not the answer you wanted.

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