We know that year-end can be stressful, that is the reason we are using all our social media networks in order to get you all important resources needed to have a pleasant year end! I would like to talk more about a new initiative introduced this year: Sage 50 Accounting Year End Center.

Each year, a recurring question from users is: Will I be able to process transactions in the closed year? Or should I wait until all transactions from the current year have been posted before starting a new one? That concern is addressed in Year-End Center under Articles section.

Most often you are not done posting transactions for the year that you are about to close. Not to worry, the program has you covered!

Example you need to process transactions in 2015 year but have not received your year-end adjusting entries from the accountant. You can start 2015 year and continue processing transactions and run your business. When you receive adjusting entries from the accountant usually general journal entries, open General Journal, change the calendar in transaction window to 2014 and post the transaction. Doing so, the program will adjust 2014 closing balances and 2015 opening balances automatically.

We have article 10125: If I roll to the new fiscal year can I still post into the previous year? in Year-End Center that covers this subject as well as many other questions you might have.

As you will see on the landing page of Year-End Center we have four main themes that come up during year-end conversations:

-          Installation

-          Payroll

-          Product and tax updates

-          Reports and tax forms.

As you will see, user forums along with year-end video are also available in the same Sage City website.

We aim to create conversations and know how you are doing with your year-end process.

Do not hesitate to leave a comment on this blog or on a specific forum accessible in Sage City’s Year-End Center for Sage 50 Canada, have a look here!

Thanks