ARCHIVED: Can I post / print a cheque or invoice in my future fiscal / calendar year without ending the current fiscal year?

CAUTION: Use caution when working with the below product functionality. Always create a backup of your data before proceeding with advanced solutions. If necessary, seek the assistance of a qualified Sage business partner, network administrator, or Sage customer support analyst.

• Sage 50 will not let you print post-dated payment cheques for suppliers in a future fiscal year.
• Sage 50 will not let you print sales invoices for customers in a future fiscal year.
• It is only possible to post into the current and previous year, it's impossible to post into the future year without closing the current year.
• In the Premium version, payroll and general journal entries can post into the future year.
• Refer to Article ID 10643 How to process post-dated paycheques (or general journal entries) into the next fiscal/calendar year?, in Related Resources for further assistance.

Solution 1: Does the company need to post in the previous year?

1. Ask yourself or your accountant: Does the company need to post in the previous year?
   • For example:
   • The current fiscal year is 2013-2014.
   • The previous fiscal year is 2012-2013.
   • You want to post date cheques in fiscal year 2014-2015.
   • The payroll year is 2014.
2. If the answer is yes, then proceed to Solution 2.
3. If the answer is no, then: I don't use payroll or my payroll year and the postdated cheques are in the same calendar year:
4. You can roll the fiscal year forward and post your vendors cheques.
5. Advancing the fiscal year forward will not prevent you from making adjusting entries in the previous fiscal year.

   For example, the current fiscal year is 2013-2014. Advancing the fiscal year will set:

   1. The current fiscal year to 2014-2015.
   2. The previous fiscal year to 2013-2014
   3. This means your financial reports for 2013-2014 will be accurate whenever you make adjusting entries dated in 2013-2014.

Note: My payroll year and the postdated cheques are not in the same calendar year: Please go to Solution II

Solution 2: Workarounds

Workaround I: I am using the Premium or Quantum version

1. Click Setup, Settings, Company, System.
2. Verify there is a checkmark for "Allow transactions in the future (beyond the session date)".
3. Verify there is a checkmark for "Allow General Journal and payroll transactions for the next fiscal year or calendar year"
4. Click OK.
5. Instead of recording a vendor invoice and vendor payment, make a general journal entry for the amount.
6. Manually cut the cheque.
7. Once you have rolled the year forward: Void the general journal entry.
8. Make the vendor invoice and payment as it should have been.

Workaround II: Backup then restore

1. Create a backup of your file under File, Backup.
2. Go to Maintenance, choose Start New Year and follow the instructions provided by the wizard.
3. Once you have moved to the new fiscal year, post your cheque and print them.
4. Restore your backup to go back to your current fiscal year.
5. Go to File, Restore and choose the backup you just created on step 1.
6. Make a note of this transaction so you can post this activity in the system once your current fiscal year is finished.

Workaround III: Use a copy of the original database

1. From the main window click on File, Properties then write down the original database file name and location then click on OK.
2. Back to the program main window click on File, Save as.
3. Type in a file name, example: copy or postdated cheques ddmmyy then click on Save.
4. The program will open the new database file.
5. Click on Maintenance, Start New Year and follow instructions on screen.
6. You can process and print postdated cheques in the New Year on this file (copy).
7. Click on File, Open Company and browse to the original database file (see step 1 above).
8. You will be on the original file which is still on your current fiscal year.
9. Do not forget to process the cheques posted on step 5 when you close the current year on the original data file.

Solution 3: If the fiscal year starts is in the second, third or fourth quarter of the year

Note: This solution to be accomplished after the last payroll of the present year

1. Change the session date to January 1st of the new year
2. Post the payable transactions
3. Move the session date between start and finish of the present fiscal year

DocLink: Can I post to a previous year after I roll to the new fiscal year?
DocLink: How to advance the fiscal or calendar year
DocLink: How to process post-dated paycheques (or general journal entries) into the next fiscal/calendar year?