Solution Properties
Solution ID:
222001000101111
Last Modified Date:
Wed Sep 09 14:44:02 UTC 2026
Taxonomy Path:
Case category//How do I...//year-end
Author:
[email protected]
Financial year end
Description

At the end of your financial year, you run the year end routine to close the current year.

NOTE:

When you run the Trial Balance, it includes the previous year's Profit and Loss. Therefore, you don't need to run a year end or post a year end journal.

Cause
Resolution

Enter all transactions

Ensure you post all transactions for the financial year you're closing.

These can include:

  • Adjustments from your accountant posted as a journal
  • Month end postings such as prepayments, accruals, depreciation
  • All other outstanding transactions for the financial year

Produce your year end reports

As part of the year end process, we recommend you run the following reports:

Change your financial year end date

After printing your reports, change your financial year end date to the following year. This moves all your reports to the new financial year.

  1. From Settings, select Business settings.
  2. In the Financial Settings section, choose Accounting dates and VAT

    .

    NOTE:

    Don't change the Accounts Start Date. This is the date you started using Sage Accounting and doesn't relate to your financial year.

  3. Enter the last day of your new financial year in the Year End Date field.
  4. Select Save.

Lock the previous financial year

If you need to, you can set a lockdown date if you want to prevent transactions from being entered accidentally for the previous year.

Steps to duplicate
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