Year End – How Do I Run My Financial Year End?

How do I run my financial year end

Sage 50 Instant Accounts are amazing and fantastic software especially designed for small business accounts software. It will save customer effort and time. It is considered as one of the best options for new and small business. It is easy to use for all users; there is no need of technical knowledge. It assist them to manage the clients money, customer and suppliers including VAT, invoicing and end of year accounts.

How do I run my financial year end?

The customer can close their current financial year and move into the New Year. Their loss and profit balance clear, their records update and their financial year star date advances by a year.

Before you run your year end

The user needs to post all their outstanding transactions for the year they are closing. It includes all the adjustment from their accountant. For the normal run a month end, they should complete that too. The user and their accountant can print their balance sheet, loss and profit balance sheet.

Run the year end routine

  • Select setting, select change program Date, enter the last day of their financial year then select ok.
  • Select tools and period end and click on the Year End.
  • Select check data and select close.
  • Select check COA and select ok, select backup, click on Ok.
  • On the other hand, if the user wants to create an archive of their data, check box selected.
  • Click on the budgets, check box and select their budget options.
  • Select Run Year End and select yes. Select Ok, select on again.
  • After the year end and check your financial year start date is correct
  • Select setting and select Financial Year.
  • Check that the data is correct.
  • Check their brought forward trial balance
  • Select Nominal codes, and then select Trial Balance.
  • Preview, Select, Run and in the drop down list select Brought forward.
  • Select ok and check that there is no balance on their profit and loss nominal codes.
  • Change their program date.
  • Select setting and select change program date.
  • And select on Ok.

At any time the user may contact us with our Sage support team. Our team is highly proficient and experience with this domain. They have enough knowledge to tackle their question. They can make a call on our toll free number. They will instantly give answer of your question. If customer wants to chat with us, they can login on our chat window we are available for 24*7 for your assistance. At any time customer can contact on Sage technical support team.

 

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