I believe this maybe the first of many posts on the issue of Sage as im new to book-keeping. I apologise!
I have installed the software for Sage Instant 2012 and as the company is Limited Liability i have selected Limited Company as business type. Next screen is asking for the start of my financial year. The company was registered with Co House in May 2012 and they have given me a date for accounts (not got it with me at the minute). Although no actual money came in till November i spent quite a bit setting up on rent equipment etc even before I registered with CH
is my start date the date mentioned on my certificate from Companies House?
I cannot select a year in the drop down box earlier that 2013 in sage set-up, is this correct?
I'm reading this that you are not a bookkeeper and sounds as though you are only just starting out with a new limited company.
Why did you choose Sage?
If the bank gave it to you for free have a look around at some of the other options first before deciding that this is what you want to go forward with (there are plenty of free trials from Quickbooks, VT, etc. Sometimes a free gift from the bank can be a real white elephant).
If you want to continue with Sage I'm not the person to help you as I've banned their products from my practice but there are plenty on here who will be along to help imminently.
welcome to the sote and kind regards,
Shaun.
p.s. good luck with your new business whatever field it may be in.
__________________
Shaun
Responses are not meant as a substitute for professional advice. Answers are intended as outline only the advice of a qualified professional with access to all relevant information should be sought before acting on any response given.
If co was registered with CH in May it will have any ARD of 31/05/13 (unless has been changed).
SAGE only does account periods in 12 months. So I would set start on SAGE as June 2012 so your year end goes to May 2013. (you should be able to set up with whatever start date you want from setting/financial year (provided you havent already posted anything)).
Anything incurred by the company pre 01/06/12 I would date as 01/06/12 on SAGE so picked up in the year and you could possibly put the correct date in the details box for your own reference.
Set your year end to the companies standard year end. If you have any pre trade expenses enter them as per the date of the transaction and in your first period on sage they all will be included in your first trial balance. One of the benefits of a complete accounting package!
Thanks for the welcome Seamus (and the warning). It was who im expecting to be our accountant who put me on to Sage as he offers discount if you do. Looks like im stuck with it lol.
Thanks for replies. Im a real novice at accounting/bookkeeping (I can see my bank manager nodding). But i like a challenge and learning new things so in at the deep end.
So to clarify some points 31/5 is a standard financial year end in the world of business?
I should be able to set start date when i want but Sage will not let me so I have dropped a clanger or the software is misbehaving?
