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Change financial year

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Summary

How to change your financial year in Sage Accounting.

Description

If you've entered your financial year end date incorrectly, or it's changed, you can change it in Sage.

TIP:

If you need to close your financial year and advance to the next, follow our Financial year end article.

Resolution

Change financial year

When you change the dates of your financial year, we automatically update your financial reports. This is to reflect your new financial year.

NOTE:

A financial year can only be 12 months.

You only need to change the Year End Date. We automatically set the start date.

NOTE:

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

  1. From Settings, then Business Settings, choose Accounting dates and VAT.
  2. Enter the last day of your new financial year in the Year End Date.
  3. Select Save at the bottom of the page.

Your financial year has now changed. All financial reports for the current and previous years use your new financial year.

EXAMPLE:

If you change your financial year end date from 31 December 2025 to 31 March 2026:

  • This financial year is 1 April 2025 to 31 March 2026
  • Your previous financial year is 1 April 2024 to 31 March 2025

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.

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