Year End in Sage 200

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Once you’ve run through your End of Year accounts with your Accountants they will advise you are in a position to perform your Year End within Sage 200. This routine tidies up your system and moves you forward into the new year.

The following effects occur on the Nominal Ledger Accounts:

Performing the Year End in Sage 200

1) Contact EBS so we can take SQL backups and Create Year End Companies – this allows you to restore the data should there be an issue, and also have a Year End Sage 200 company so you can run reports as if it were still the prior year.

2) Once EBS confirm the backups have been taken, go to Accounting System Manager > Accounting Periods > Maintain Accounting Periods – “Change Period Status” on all Open periods and modules until all periods are Closed.

3) Nominal Ledger > Period End Routines > Year End – tick boxes to confirm necessary reports have been run (if these need to be re-run at a later date this can be done from the Year End Companies) and select “OK

4) Once the Year End process has been run you will be prompted to check your Accounting Period Dates – check the Period End Dates are correct for the new Financial Year. If they aren’t, select the date and then “Change Period Date” – enter the correct date.

5) If you clear down you P&L accounts and post to an accumulated profit nominal, you will need to do this in Nominal Ledger > Period End Routines > Account Maintenance, tick the box “Remove profit and loss transactions from previous financial year”. We cannot advise whether this is something you need to do or not. You will need to check with your accountants if you are unsure.

6) You will notice all the periods show as “Future” you will need to update this to “Open” by again selecting the periods and modules and selecting “Change Period Status

7) You will receive messages to say transactions have been moved from Deferred to Current, you will still need to run Update Waiting Postings to post these transactions to the Nominal Ledger Accounts. Nominal Ledger > Period End Routines > Update Waiting Postings

8) You may want to review the settings in Accounting System Manager > Settings > System Settings > Transaction Settings tab and the date validation settings to confirm you are happy with these.

Once the steps above have been actioned, you should be ready to process in the new financial year.

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