Can I post to a previous year after I roll to the new fiscal year?

Created on 02 May 2023 | Last modified on 02 May 2023

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.

- 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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