I am working for a company whose year end is the 31st December and I am still entering December transactions.
I also want to start entering January transactions, is there anything I need to do before I can start this? do I need to change the financial year or anything yet?
I have already entered a couple without changing anything or doing anything differently to entering December transactions.
Also I have set up a new tax code for the 20% vat, I have changed T3 to 20% vat, is this ok? and also do you know how to set this code as the default?
Until you perform the year end shutdown you'll probably get an annoying message saying your're trying to post transactions past your year end. However theres nothing stopping you from posting January transactions.
I personally would have changed T1 to be 20% but using T3 shouldnt cause any problems.
Stuart
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Stuart
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You can get rid of the annoying message by going into Settings, Co Preferences, Parameters and ticking Pause outside end of year message.
I too would have changed T1 to 20% as this is likely to be the standard rate for some time (David Cameron said it would not be changing back). T1 is always default in Sage it cannot be changed therefore using T3 for standard rate will cause you a lot of extra work.
You can happily work for as long as you need to get all your year end stuff sorted. You do not need to do the year end procedure until you and, presumably, the accountant is satisfied. The only thing you need to do is to ensure when you do the year end you change the program date to 31st December 2010, the change to 1st January 2011 to enter any opening balances.
I didn't know you could turn the message off. I was on a new clients the other day and it kept coming up its very annoying. He has Sage V10 instants and I have another client on Sage V12 instants, can it be done on these?
I always change the code T1 to the current VAT rate.
I didn't know about that either. I have Sage Instant v15 and it's not available on there so I'm guessing it won't be available on V10 or 12 either. It may just be Line 50.
Hi, thanks for your help. I have the newest version of sage v16 i think and as i am typing in new invoices that message about pausing outside of year end comes up everytime.
