Change financial year

You might need to change your financial year if you entered your financial year end date incorrectly. Or your financial year has changed.

You can change your year end date at any time.

A financial year can only be 12 months.

For details on how to move from one financial year to the next, see Financial year end.

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.

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

 NOTE: Do not change the Accounts Start Date. This is the date you started using Sage Accounting and not related to your financial year.

1. From Settings, then Business Settings, choose Accounting Dates & 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.

For example, if you change your financial year end date from 31 December 2022 to 31 March 2023:

• This financial year is 01 April 2022 to 31 March 2023
• Last financial year is 01 April 2021 to 31 March 2022

Lock the previous financial year

Enter a lockdown date if you want to prevent transactions from being accidentally entered for the previous year.

For example, if your financial year ends on 31 December, enter 31 December as the Year End Lockdown date. You can only enter new transactions from 1 January onwards.

If you need to enter transactions for your previous year, remove the Year End Lockdown date.

• Financial year end
• Run the Profit and Loss
• Run and analyse the Trial Balance
• Financial reports