How to Extend an Accounting Period

 I have done Mar 2009 year end and my next account is for the 17 months to Aug 2010.

 How do I achieve this in Sage 50 Accounts Plus 2009.

 Thanks  

Comments

How to Extend an Accounting Period

taxrebel | | Permalink

Sage can only record 12 month years.  So you need to split the 17 into a 12 and a 5.

After you perform the next year end at March 2010, immediately reset the financial year start date to Sep 2009.

You then need to carry out a further "year end" at Aug 2010 which contains 5 months activity (from April to August).

 

 

Change Period End

johndon68 | | Permalink

The Year End in Sage has to be 12 months after the beginning of the year so, to get a year end of August 2010, the start date would need to be set to September 2009.

In Sage, if you go to Settings -> Financial Year, is there a Change button?  If there is, you can change the start date to September 2009 which will give you a year end of August 2010.  If the option is not there (I can't remember off the top of my head if it is there in Accounts Plus), you have a couple of options:

1. Send the data to Sage for them to change it, last time I checked they charge £149 if you have SageCover and about £275 if you don't.

2. A quicker and cheaper option is to get a 3rd party who offers a financial year change service to it for you - this is a service I offer if you are interested.

John 

Old Greying Accountant's picture

Unless you use SAGE for management reporting ...    1 thanks

Old Greying Acc... | | Permalink

... and just want period end totals, re-set the year to 31st August, do not do a year end at 31st March.

Because of the infantile way SAGE works, you will have all the data for the first 5 months shown a PY adjs on your B/S and in the B'/F boxe on the nominal activity, but will have the full 17 mopnths figures in your P&L.

Then run the year end at 31st August.

All a SAGE year end does is a transfer of any balance in any P&L account to A/C 3200, which you don't want.

When SAGE will do something useful and have open period accounting is anyones guess, they seem obsessed with more and more complex management functions that 95% of users of Line 50 don't want: and do precious little on the basics that they do want!

This method means you don't have to add two periods together for your 17 month set.

 

 

It really helps! Thanks Young

Ni82 | | Permalink

It really helps! Thanks Young Greying Accountant!

What about shortening an

FazerJett | | Permalink

What about shortening an accounting period in Sage? For one of the companies here, we have just changed the ARD from 30th June to 31st May. How do I "get rid of" June as being in the current year. Many thanks Jonathan (P.S.  How do I get paragraph breaks in these text boxes?)

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