closing multiple years

Question

Hi Dear i hope everybody are fine on this period of time ,,, my question, because i am new user of Sage 50 and in our company we are working with the sage 50 premium Canadian version,,,, now thing`s i need,,, how can i closing multiple year because the season date start in 01 01 2016 and our closing year end is Sep 31 first of each year and we were never closing the sage 50 year end on time and now i am working with the sage and i try to update everything and do thing`s in right way but i can not closing the the previous year like for last 4 from 2016 till few days ago on Sep 31 2020 . Is there any of you guys can help on this issues. thank you in advance

Agate · Answer

Hi mouzamani: 
 Closing out a year is a very simple task of just going to the Maintenance menu and then selecting Start New Year. Before you do this though please ensure your accountant has completed your past 4 fiscal years and you have entered in any adjusting or closing entries. Once done please ensure your Trial Balance agrees with the accountant's numbers for each of the last fiscal years. You must also do a backup to ensure you have the data in case CRA comes a knocking on your door. It is unusual for you to have 4 fiscal years that have not been closed year by year. I would suggest to you to contact someone like myself or another Sage Certified Consultant to review your Sage file to ensure the status of your data in Sage 50 before closing out (a) fiscal year(s).

Agate · Answer

Hi mouzamani: 
 Are you talking about your year-end date or changing your last transaction's date. Your year-end date can be changed to what ever you want providing you are changing it to a date that it is after or the same date as your last transaction that you entered. If you want your year-end to be September 30, 2020 then any transaction dated prior to or the same date is allowable. 
 Hope this answers your question!

Sage 50 Canada

closing multiple years

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