CAUTION: Posting into the next calendar year, will close the current year's payroll taxes. We recommend that you completely finish the current year's payroll before closing the calendar year.

The procedure for processing post-dated paycheques (or general journal entries) in the next fiscal year varies based on your version of Sage 50. 

Sage 50 Pro

You must close the previous year before post-dating paycheques (or general journal entries) into the future fiscal year.

Workaround 1: Make an advance

1. On the final paycheque for the closing calendar year, use the Advances field to reflect the gross amount for the post-dated paycheque.
2. Post the paycheque.
3. Once the new calendar year is in effect and the date of the actual paycheque has come, only fill the Advances field with a negative value to make it neutral overall.
4. Empty all other income fields.
5. The paycheque will be negative.
   • This is normal as it will be close to net neutral with the final paycheque for the closed year
6. Post the paycheque.

Workaround 2: Make a backup, post, and restore

 CAUTION: Read all the steps below before executing them.

1. Make a backup of your data.
2. Roll your calendar year forward.
3. Post the post-dated paycheque.
4. Write a note of all the details of this paycheque as you’ll need to re-enter it.
5. Restore from your backup (this will remove the paycheque).
6. Carry on until you’ve rolled your calendar year forward.
7. Post the paycheque that you completed in 4.

Sage 50 Accounting Premium and Quantum

You can enable the ability to post both general journal entries or paycheques into the future year (fiscal and calendar respectively).

To do this:

1. Go to Setup, Settings, Company, System.
2. Add a checkmark for Allow transactions in the future (beyond the session date).
3. Add a checkmark to Allow General Journal and payroll transactions for the next fiscal year or calendar year.
4. Click OK.
5. You can now post-date paycheques/general journal entries into the next calendar/fiscal year.

 CAUTION: When using the automatic calculation for payroll, Sage 50 Accounting-Canadian Edition will use the current tax tables at the time of posting the paycheque.  If you post a paycheque to a future year, these tax calculations are likely to be wrong.

Can I post to a previous year after I roll to the new fiscal year?
How to advance the fiscal or calendar year