The financial year end process

How to run a year end and close the year in Sage 50 Accounts.

Before You Start

1. Prepare for year end.
2. Once ready, proceed to Run the year end.

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Run the Year End

 

1. Go to Tools, select Period End, then select Year End.
2. Press Check Data.
   • Fix any errors or warnings before continuing
   • If there are no errors or warnings, press Close
3. Press Check COA, then press OK.
   • Correct any Chart of Accounts errors
4. Press Backup, check the filename and location, press OK, then OK again.
5. Select the Archive Location checkbox to archive your company data.
6. Confirm details in the Archive Company window, then press OK.
7. Select the Budget Options checkbox, set up budgets for the new year, then press OK.
8. Check the closing year date and enter a lock date to prevent postings before a specific date.
9. Press Run Year End, then press Yes and OK.
10. Select how to output the report, press OK.
11. You'll see a message confirming the year end process is complete. Press OK to close.

  

 

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After Running Year End

Perform three checks to ensure your data is ready for the new financial year:

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You’ve completed your year end and are ready to start the new financial year.