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Year end Preparation - Setting up the 13th period

Created on  | Last modified on 

Summary

How to set up the 13th period in Sage 50cloud Pastel.

Description

A financial year consists of 12 periods. Sage 50cloud Pastel allows you to create 13 periods in a financial year. You use the 13th period to extend your financial year by 1 period. This step isn't mandatory and allows you an extra period to finalise your Year end.

Resolution

 

A financial year consists of 12 periods however the system offers a 13th period for two exclusive reasons:

  • Some organisations process 13 four week periods in a year
  • To extend your financial year, this allows you to work in the next year while you finalise your year end

Setting up the 13th period

  1. Click Setup then Periods.
  2. Enter 13 under Number of Periods.
  3. Select the option Use Last Period as the First Period of the Next Year.

Setup Period screen showing 13th period setup.

Processing will take place in the 13th period. When the year end process is complete, the transactions captured in the 13th period move to period 1 of the financial year.

CAUTION: If you are running 12 periods, don't select the option Use Last Period as First Period of Next Year. This option moves all the transactions for the last period to the first period of the new financial year. 

▼ View an example

12 Periods: March 2020 - Feb 2021 -  If you select 'Make Last Period as First Period of Next Year'. Feb2021 will be the period 1 of the new financial year.

13Periods: March 2020 - March 2021- If you don't select 'Make Last Period as First Period of Next Year'. April 2021 will be the period 1 of the new financial year.

Based on the above, if you only want to run 12 periods. Don't select the option 'Make Last Period as First Period of Next Year'.

If you wish to run 13 Periods. Select the option 'Make Last Period as First Period of next Year'. 

If you don't set up this option correctly, you'll find that your periods are incorrect after running the year end.

 

NOTE: If you're unable to change your periods you'll need to send the company dataset in for a datafix. Contact support and ensure you have your customer number, base serial number and a screenshot of the problem.