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.
You can only edit the fiscal year start date 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, you can't change the Fiscal Year Start date.
You can advance the fiscal year to the next year by browsing to Maintenance, Start New Year. You can 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 won't allow you to change your session date to the previous fiscal year, it allows posting 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. However, you can't post into any periods before the previous fiscal year.