First Previous - Page 1 of 1 - Next Last

sage end of year

  • Member PM.Dip
  • Practice Licence
  • 38 posts
  • # 70029

hello,

could someone please advise me on a matter concerning sage and the year end.

i am working on a clients accounts where they have moved the year end.

the old accounting year ran from 30 sept 09 to 29 sept 10.

this has now been extended to run from 30 sept 09 to 31 march 11. with a view for following years to be ran 1 april 11 to 31 march 12 etc.

 please could you tell me if, when working on sage do i....

complete an accounting perid for 30 sep 09 to 29 sep 10, and follow the year end proceedure, then complete another period  for 30 sep 10 to 31 mar 11 and do a second year end proceedure,

or is there a way to have sage allow you to do this all in one, i.e 30 sep 09 to 31 mar 11

thank you, 
rachel.     

  • Member PM.Dip
  • Practice Licence
  • 2 posts
  • # 70068

Hi Rachel

Sage will not allow you to have a period longer than 12 months,  However, you can run certain reports for a longer period through the transactional reports in financials (I can't rember off hand if you can run a profit & Loss account through transactional reports for longer than 12 months  My first thought would be you can).  But I would certainly be running a transactional Trial Balance from 30 September 2009 to 31 March 2011. 

There has been a couple of times that I have had this situation.

 As you are asking now, you obviously been processing after the sage year end 29 September 2010 anyway. So what I would do is export/print the reports for the period 30/09/2009 - 31/03/2011.  Then to get the sage system correct I would run a year end 29 September 2010.  then change the year end date to March 2011.  Then year end it again. 

As A double check for myself I would export the 12 month period trial Balance to Excel, before year ending the first year.  Run a year end, then change the financial year end in sage to March export another Trial balance to excel and add the two trial balances together.  This should be the same as the transactinal Trial balance you should have run earlier.   Maybe a little overkill but it always good to double check.

I have abviously assumed from what you said that they will be preparing a long set of accounts rather than a 12 month and a short month.

Hope this Helps.

Carl Foster

  • Member PM.Dip
  • Practice Licence
  • 38 posts
  • # 70081

hi carl.

yes i am running a long set of accounts from sep 09 to march 11,

but so far i have not entered any transactions onto sage after sep 10 because i wasn't totally sure of what to do,

thank you for your help

rachel


Edited at 06 Apr 2011 01:44 PM GMT

Edited at 06 Apr 2011 01:45 PM GMT

  • 59 posts
  • # 70121

It may also help Rachel if you read one of the Ask Sage articles, its article no. 11307 which apparently deals with this situation.
This is assuming you have a Sage login and password, or your client does.
Good luck with it.

First Previous - Page 1 of 1 - Next Last
loading