Summary
Adjustments need to be made to previous years' transactions, however, I just rolled over to a new fiscal year but now I need to correct a journal entry in my previous fiscal year.
Resolution
CAUTION: Sage support can't assist with third-party products, hardware, report customizations, or state and federal tax questions. Refer to our Scope of Support for more info. Contact your Sage business partner, network administrator, or accountant for assistance.- Sage 50 allows for adjustments to be made to transactions created in the current and previous fiscal years only.
- Once a year has been rolled forward, what was the current year now becomes your previous year.
- So your former previous year can no longer be accessed unless it is through a backup.
- For ex: You just started a new year for Sept 1, 2013 - August 31, 2014. This will be considered your current fiscal year and your previous year will now be Sept 1, 2012 - August 31, 2013. You will no longer be able to make entries for August 31, 2012 or dates earlier than that.
- Speak to a CPA to see if posting a transaction on the previous fiscal year start date would be possible for your situation
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