The Sage Year End Procedure

Preparing for your Year End (Step 2 of 4)

1.   Run the Year End option to perform your Year End postings.

Click here  to enter the Year End option.

The balances for the current financial year on your profit and loss accounts will be transferred to the Retained Earnings account so that the transactions for the new financial year can be entered.

The remaining balances on your balance sheet will be carried forward into the new financial year to give an accurate picture of your ongoing financial position.

Any future-dated transactions will be transferred into the relevant monthly box on each nominal account record.

The Nominal and Product budget figures can be set automatically for the new financial year, with a percentage increase (if required). Actual values will be transferred to the prior year figures, so that you will be able to produce comparison reports in the new financial year.