The last step in the year end process is to close off the current financial year and move over to a new financial year.
As mentioned earlier the year end process in Sage Accounting is very simple and easy.
To process your Year End follow the instructions below...
- Click on the Company… Change Company Settings menu.
- Select the General Settings option followed by the Financial Years option.
- The following screen will be displayed:
Click on the plus button at the end of the row of the last financial year.
A new line is displayed with the next financial year:
Tick the Current Financial Year tick box for the new financial year.
Setting a Lockdown Date means that no transaction can be processed or edited with a date up to and including this date.
Tick the tick box and enter the date when transactions cannot be processed (this date can be the last day of the previous year end).
Click on the Save button.
Once you clicked the Save button, the year end is completed.