Year end - FAQ

Questions and answers around year end in Sage Accounting.

I received a message 'Would you like to set your current financial year as'. What must I do?

This indicates that the dates in your current financial year in Sage Accounting don’t match your computer system date. It’s asking if you want to move over to the new financial year. You can click yes or you can manually move over later.

Can I run my year end later? Is Sage Accounting date based or period based?

Yes, you can run your year end at a later stage. Sage Accounting is date-based.

Can I process adjustments and journals after I’ve completed my year end?

Yes, you'll need to reopen a VAT period.

For guidance on processing adjustments and journals, view the article Processing journal entries.

For guidance on reopening a VAT period, view the article Reopening a VAT period.

Can I change my lockdown date after I've set it?

Yes, as long as you have the correct permissions.

For guidance on permissions, view the article Assigning permissions to an invited user.

For guidance on updating the lockdown date, view the article Setting a lockdown date.

If I realise later that I've made errors, am I able to correct them?

Yes, you'll need to reopen a VAT period.

For guidance on reopening a VAT period, view the article Reopening a VAT period.

If I run my Year end, will users be able to change data?

No, users can’t edit or process any new transactions as long as you have set a lockdown date.

For guidance on updating the lockdown date, view the article Setting a lockdown date.

Does Sage Accounting allow 13 periods?

No, as the system allows you to go back and forth between financial years freely. You'll need to change your lockdown date to process.

For guidance on updating the lockdown date, view the article Setting a lockdown date.

Do I need to make a backup before Year End?

No, we back up your data daily and stored for two weeks.

Can I process directly to System Accounts?

No, you'll need to correct the original transaction which will then automatically adjust the system accounts involved.