Common questions about changing the Fiscal Year – FAQ

The current fiscal year dates are listed under the Current Year Dates located in Setup, Settings, Company Information.

Log into Sage 50 Accounting as sysadmin in Single User Mode and go to Setup, Settings, Company, Information. Select the calendar icon and choose a date that is later than the latest transaction date.

The most common reasons why the fiscal year end date is not accessible to change are not being logged in single-user mode as the sysadmin or the date selected is earlier than the latest transaction date. See  The fiscal year end date can't be changed for more information.

The fiscal year start and end date can’t be changed for a previous year. Only the fiscal year end date of the current fiscal year may be edited.

The fiscal year start date can only be edited in the first year of the company setup in Sage 50. It defaults to the fiscal year-end date of the previous year. Once the company moves beyond the first year, the Fiscal Year Start date cannot be changed.

The fiscal year may be advanced to the next year by browsing to Maintenance, Start New Year. You may also start the next year by changing the session date to the first day of the new year. See How to advance the fiscal or calendar year for more information.

Yes. Although Sage 50 will not allow you to change your session date to the previous fiscal year, it does allow users to post transactions for the year. Manually change the transaction date to a date in the previous fiscal year to post.

Sage 50 allows users to post transactions into both the current and previous fiscal years but does not allow posting into any periods before the previous fiscal year.