Summary
This article describes how you can move to your new year and post adjustments to your prior year.
Description
New features since Sage 50 Premium (and Quantum) Accounting 2013:
- Post a general journal entry to a future year.
- Post pay cheques, in the Payroll Journal, to a future year without closing off the current fiscal year.
- Lookup future-year pay cheques to make corrections at any time.
Cause
Resolution
After starting a new year:
- Sage 50 allows you to post transactions to the current fiscal year and one prior fiscal year.
- When posting to the prior year, you can change the date of a transaction as far back as the first day of the previous fiscal year and post the entry on the transaction window itself. See How do I post to a prior fiscal or calendar year?
Limitations:
- You can’t generate a Payroll Cheque Run in the previous calendar year and you will need to issue individual cheques.
- Check your Company settings to verify the system doesn't deny the posting of transactions before a certain date.
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- Log in as single-user mode and sysadmin. See How can I tell what user and mode is a file is logged in with?
- Go to Setup, Settings, Company, System. The date entered in Do not allow transactions dated before must be the beginning of the previous fiscal year
- Select OK.
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