Running a year end routine

Once you have passed your accounts year end and you have check you are ready to run a year end routine, please see last month’s newsletter on what to do, you are ready to run your yearend accounts routine.

The year end routine does several different things.

  1. It advances your accounts year by one, letting you run profit and loss reports for the current year etc.
  2. Each nominal code that is included as part of the Profit and Loss in the Chart of Accounts is zeroed and a revering figured entered and the difference is posted to the Retain Profit nominal code e.g. 3200 Profit and Loss
  3. Archive’s your data.
  4. You can also set nominal and stock budgets if required.

Running the yearend routine

  1. Click Tools, point to Period End, and then click Year End.
  2. Click Check Data – caution any errors etc need to be corrected before continuing.
  3. Have zero errors? Click Close.
  4. Click Check COA, then click OK, receive an error, this needs to be corrected before you go any further.
  5. Click Backup, select the files you want to be included in the backup. We recommend changing the name of the Sage backup to include the year end date e.g. VitalsupportYE, this backup needs to be retained and stored in a safe place. You might want to take more than one backup.
  6. To Archive your company data, select the Archive check box (archiving your data lets you create a copy of your data which you can access to run reports for previous years and view data which you might have cleared down).
  7. Confirm the details on the Archive Company Window.
  8. To set up budgets for your new financial year, select the Budgets check box and choose your budget options.
  9. Check the date is in the year you are closing and, enter a lock date to prevent postings before a certain date, this stops people from accidently posting back into last year after you have run the year end routine.
  10. Click Run Year End then click Yes and click OK.
  11. Select how you want to output the report, click OK, then click OK

Memo – We recommend running the year end routine on the computer that holds your accounts data. The year end procedure might take some time. If the software freezes when running the year end, do not close it, as the year end procedure may still be running.

If you would like help checking your accounts or correcting items before running the year end or would like help running your yearend routine or need any other help with your Sage Accounts, please contact us

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