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How do I process a Year End in Sage 50cloud Pastel Accounting?

Created on  | Last modified on 

Summary

In this article you will learn the steps required to process a Year-End in Sage 50cloud Pastel Accounting

Description

A dataset can have up to 13 periods. Once you have reached this limit you will need to process a Year End in order to roll over to the new financial year.

CAUTION: Please ensure you have performed the pre Year End checks before attempting to run the Year End assistant.

  • Every user on Sage Pastel Accounting must be logged out of the company
  • The Year End needs to be completed on the server.
  • If the Year End cannot be completed on the server, copy the data locally onto the workstation, add the company and run the Year End.
  • Copy the company back onto the mapped drive where the server is and add the new company.
  • Remember to remove the company on the workstation and activate it from the server.

 

Resolution

 

  1. Select Change > Year End, the following message will display, select Yes to proceed

 

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2. The Year-End Assistant will display

 

CAUTION: Ensure you have made a backup before proceeding with the Year End procedure.

 

3. If the 13th period was setup, the following message below will appear, select Yes to proceed

 

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4. The next screen will give an option to create a new company or run the Year End in the existing company

 

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Creating a new company:

Allows you to keep financial information for more than two years, because a new company is created for each financial year.

Should you wish to have a look at history that occurred more than 2 years ago, the company data for that year can be opened.

  1. Ensure the option Create a new company called is selected
  2. Type in the new folder name in the block provided

EXAMPLE: Example if the current folder is YE2017 the new folder will be YE2018

  1. Select Run the Year End in the new company
  2. Select Next
  3. You will get a message that the company has been created. Select OK
  4. Print Reports: This screen is just a reminder of the Financial Reports that should be printed. These reports can be reprinted after the Year End.
  5. Select Next
  6. What the Year End Does: Provides an explanation what the whole process entails and what changes will be made to your records
  7. Select Next and Process to confirm operation

 

When selecting to not create a new company:

 

  1. Selecting the option Do not create a new company
  2. Print Reports: This screen is just a reminder of the Financial Reports that should be printed. These reports can be reprinted after the Year End.
  3. Select Next
  4. What the Year End Does: Provides an explanation what the whole process entails and what changes will be made to your records
  5. You will be advised to create a backup (if you have not yet done so), before you can select Process to complete the Year End
  6. If asked complete the process of making a backup (If you choose to not make a backup this will be recorded in the audit trail)
  7. Select Next and Process to confirm operation

 

NOTE:  The Year End can take a while depending on the size of the data. Please do not close the process while the Year End is running. You will receive a message that the Year End is complete.

 

Click here to access Sage 50cloud Pastel Year-end Centre for more information about year end.