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Post Info TOPIC: End of Financial Year on Sage
Webby


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End of Financial Year on Sage
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I have recently started "flying solo" on Sage Instant and am about to process End of Financial Year.  Am looking for confirmation and reassurance that what I am about to do is correct!

I have already reconciled all bank accounts, processed the VAT return and journal and carried out all usual year end tasks.   I have done 2 Pre-Year end Back ups.

So, to run year end; I presume I need to change the programme date to 31/03/2011? Then go to Tools, Period End, Year End and run the end of year.  Is that it? 

Once I have run the end of Year will I need to input the progamme date back to this financial year ie. 31/03/2012 or will that happen automatically?  Is there anything else I should be doing?

Any advice/reassurance is welcome.

 



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K3 Accounting


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Pretty much spot on, but once you have run the year end Sage asks you for the financial year start date - make sure the date is 1st April 2011 in your case.

Just make sure you have posted all payments / receipts / adjustments (sounds like you have) as necessary before you start the process.



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Webby


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Thank you for the confirmation that I am doing EOY correctly. 

A bit of reassurance works wonders for my confidence levels!

 

 

 



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Erica


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Hi People

Please can I get some help regarding year end on sage line 50 account,basically I don`t know what I have to do at all.
Would very much appreciate it if someone could explain it to me :)

Thank you in advance,

Regards
Eric

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MarkS


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If everything is in for the year then to close down go to tools/period end/year end. 

Make sure you have taken a couple of bank ups.

Year end journal should be dated your year end

Tick the box to archive your data.

Then click ok and will balance forward into your next year transferring all the profit and loss accounts to the P&L reserve N/C 3200.

Nothing more complicated than that.

Alternatively select help in top right of screen and walk through the relevant stages.

Regards

Mark



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Mark Stewart CA

http://stewartaccounting.co.uk/

Providing accounting, bookkeeping, payroll and tax services to small and medium sized businesses across Central Scotland and beyond.
Erica


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Dear Mark

Many thanks for your help :)

Erica

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