I have taken on the books of an LLP who have been using SAGE 50 2008 and the financial year is set from 01/05/2011 - 30/04/2012 ... it will not allow me to extend the financial year, but the year end on compnaies house is set to 31/05/2012 so I need to put in the extra months accounts into the year end accounts etc but how do i do this without the co'operation of the SAGE software? Help, stuck !
It will only allow me to change the year start date but will only let you have a 12 month financial year so this wouldn't work either and if I add the figures manually how will i sort this out in SAGE?
Can anyone offer advice? I understand companies house will not allow the year end to be chaged once accounts have been submitted. The previous Bookkeeper submitted the account for the SAGE financial year which did not match CH records so they were returned by CH ... Hence where I come in, said Bookkeeper gone AWOL
Thank you for reading :)
-- Edited by BookkeeperBasingstoke on Monday 4th of February 2013 08:11:21 PM
My guess there was that if you changed the start of the year to move it forward, the cumulative figures for the year will include the (previous) first month(s) in the figures for the year; this is why I suggested the poster take a backup and run certain reports before and after the change, just to make sure. It seemed to work for him, so I should think it'll work for you as well. Just make sure you take that backup and run those reports to see.
When you want to produce full year figures to include the May 2011 figures, giving a 13 month year to put things right, be sure to either use the Year to Date figures after running your P&L up to and including May 2012. (Or run the report from "Brought Forward" to that month.)
Here's the science bit...
The reason it works (using your dates) is because when 2011 was closed down, Sage zeroed all the profit and loss accounts by journalling their totals to the retained profit account or equivalent as at 30/4/2011. Once that's done, in the new financial year, running the P&L report for the month "Brought Forward" will show zero for everything.
Once you've changed the start of the financial year to June 2011, if you run the P&L report for the month "Brought Forward", that month will contain the figures that were previously shown for May 2011 - previously the first month of the year. If you run the report for just June 2011 (after making the change), you should see June's figures and the Year to Date figures differ - because the Year to Date figures include the brought forward figures, which are the May figures.
-- Edited by VinceH on Monday 4th of February 2013 08:59:36 PM
-- Edited by VinceH on Monday 4th of February 2013 09:01:05 PM
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Vince M Hudd - Soft Rock Software
(I only came here looking for fellow apiarists...)
Thank you so much for your reply. I decided to call CH as the accounts aren't due until the 19th Feb 2013 and they said I just need to complete an LLAA01 form to change the Accounting Reference date then resubmit the accounts as they were. Thanks again for your help !
So, I have been asked to carry out book- keeping on sage for a company recently. Day 2 and I find that the accounting records are a mess and dis-organised files.
But first and foremost, the year end of the company is June 2013 for the coming year. Sage shows year end June 2011 which suggests that year end procedures have not been carried out on sage. I am inputting data for jan 2013, how do I change the year end on sage properly to June 2013? What procedures should I be following To close 2 years prior to the current one?
I read both your threads but my query is slightly different to the ones posed by others, in sense sage is set up for June 2011 year end and currently I am posting for jan 2013. So I need to close June 2011 and then June 2012 as well. How will that affect my current work because I have inherited this from some other book- keeper and need to set up my financial year as June 2013. so shall I still follow the same steps? But won't that produce different reports because these are all different years.....?
The thread I linked to above is the one you started, in which I've answered your question - it isn't a link to another thread where I've answered another similat (or not) question.
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Vince M Hudd - Soft Rock Software
(I only came here looking for fellow apiarists...)
yes, being slap Meister is just one of the perks of being moderator.
Flower,
your new to the site so it's quite understandable that you haven't got used to how it works yet.
all of the regulars will use the recent posts button to see the latest posts of all sub categories rather than going into any of the sub categories directly.
If the same post is made in more than one category then repeats will be cleaned up unless, as in this instance there is a reason to keep it.
If we allowed multiple versions of the same question to remain then each may end up containing only half the answer, or worse still no answer which may mean that people searching the site come up empty for their problems where a perfectly good response exists in a different thread.
In general I find that with Vince's posts if he says that the query has already been answered then you can take it to the bank that the answer that he is pointing you to is the best that you are going to get.
Hope that this now resolves matters,
kind regards,
Shaun.
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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.
