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Financial year end checklist

Created on  | Last modified on 

Summary

Record and print your progress when running your year end in Sage 50 Accounts.

Description

Year end dates

Financial year closing:
 
   
Ran the year end date:
 

Before Year End

  Post all outstanding transactions, including any adjustments from your accountant.

  If you normally run a month end, ensure you've done so.

  Print copies of management reports, for example Profit and Loss and Balance Sheet.

Year end process 

  • Click Tools, select Period End, then click Year End

  Check your data.

  Check your Chart of Accounts.

  Back up your data.

  Archive your data, if required.

  Choose to set up budgets if required.

  Verify the correct date for the year you're closing.

  Enter a lock date if required.

    • Click Run Year End then click Yes and click OK
    • Select how you want to output the report, click OK, then click OK again

After the year end

  Click Settings and Financial year to check that the Financial year is correct for the new year.

  Check your brought forward Trial Balance.

  Check your data.

  Create another backup.

Optional post year end tasks

  Clear your audit trail.

  Clear your stock.

  Remove old records.

  Remove old invoices / orders.

  Compress your data.