I am CAT trained and qualified and have been using Sage for 10 years now and I have always had an issue with year end routines!
My method has always been to export the trial balance from sage to excel and then make journal entries and post Trial Balance adjustments from within Excel. This is more versitile obviously however should I be doing all this from within Sage? After I make this adjustments and run my year end I then proceed to make the adjustments again in Sage.
I would really appreciate someones advice on this. Its just seems that to do all the adjustments etc from within Sage is very cumbersome ie opening stock & closing stock, adjustments to creditors and debtors, allowance for bad debts etc.
Also, I have been reviewing VT accounts and it seems that I could to all this easily using this, being a excel based accounting system. Moreover, it actually allows me to print a full set of accounts with notes and asset breakdowns etc. In sage you can only really print out P&L and balance sheet. Then you have to include that in a full report to a client. (Providing you have made all your adjustment from within Sage!)
I appreciate you getting back to me but could you elaborate a little. My method giving the fact i have to use sage for now. What is your advice on my method and am I right in doing this way.
Again thanks for getting back to me but i would really appreciate it if you could go into a little more depth.
Waz - your two pieces of advice taken independently don't make for good reading. The first post looks like a comment on the original poster. I assume you mean "Sage" is "utter crap" and he should go for VT Transaction + ? Perhaps combine the two posts into one post - especially as there is now an advert breaking up the posts.
EDIT : I see what you've done and it's my mistake. You were answering the question at the top of the thread.
-- Edited by Peasie on Monday 26th of September 2011 01:38:38 PM
__________________
Never buy black socks from a normal shop. They shaft you every time.
Thanks for following up on my post. Could you give me some feedback on my post. Am I doing this the right way or should I be doing it al from within Sage. I desprately would love some feedback as I have been using Sage for 10 years now and it is a big thing for me to be considering moving over to a new software practice??
If the year end is closed, then I post all the adjustments into Sage before running the year end. If they have closed their year end, I work out the adjustments to their opening balances and get them to post that as a journal in their new year. (I don't use Sage to do any actual calculations)
I don't know which sage you using, and what adjustment you are trying to do, but I am using Sage 50 Accounts and it is doing everything mostly everything, the things is I backup the file then run year end and do all my adjustment entries as Journal entry and save it, when I am happy with it I restore the file and retrieve the Journal entries and post then backup again in deferent name and check again if that is what I want, hop that help
I make a point of replying to all who were kind enough to reply to me, so thanks for your reply I will certainly review the software you have suggested.
Ultimatley my aim is to set up a bookkeeping service to local businesses. I have my own coffee business but I also look after the books for two friends of my mine. One is a painter contractor and the other has a car valet business with a mobile units as well. So I am sort of using them as businesses to test out certain methods and once I perfect the process of collecting data and processing then I will go ahead with a full bookkeeping service so your suggestions could prove to be very useful.
They way I was doing it was before running the year end in Sage I exported a TB then brought it into Excel started a ETB then processed the adjustments. I then got the client to confirm all adjustments etc (as on occasion these figures change) then I go back to sage enter the adjustments and process the year end.
I just felt that doing the adjustment within sage can be cumbersome and if the client actually wants a correction you have to then reverse the particular adjustment which in turn litters the audit trail.
But with every thing said and done is great to able to network on here and seek a second opinion it much appreciated. Thanks again
Thanks for getting back to me. So basically I should could and can do all my adjustments in sage ie closing stocks, depreciations, allowance for bad debts etc providing a take backup obviously before doing so.
Just one question if i setup all my journal entires and memorise them from within sage can I recall them once I restore a previous backup? Is that what you do.
Hi Noel, Yes, you can and that is the good things in Sage as far you backup the file with a deferent name, and save your entries with a deferent title, then you can restore the backup and recall the Journal you want.
