If you prefer to see the steps in action, then you can watch the following short video which shows you how to run a year end in Sage 50
or keep reading for step-by-step written instructions.
When you come to the end of your financial year, you run the year end routine in Sage 50 Accounts in order to close your current financial year and to move into your new financial year. Before you do this, it’s recommended you carry out a few quick checks to ensure your year end runs smoothly. To see how to run year end on Sage 50 please see the steps below.
NOTE: The year end procedure may take some time, if the window shows as Not Responding do not close the software as the year end procedure may still be running.
Now you’ve ran your year end, we recommend three simple checks to make sure your data is all set for your new financial year:
Running the year end process clears your profit and loss nominal codes, numbered 4000 and above by default, and moves the balance to your retained profit balance sheet code, 3200 by default.
If any of the profit and loss codes have balances you should restore your pre year end backup, check your chart of accounts (COA) and run the year end again.
And that’s it. Now you’ve completed your year end and are ready to start working in your new financial year.
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