Posting more entries after Dec. 31 without closing the year

Question

Hi, 
 I was just wondering, since this was not available on a different software I used to use. 
 I changed to Sage 50 now and was wondering with my year end coming up December 31st. Can I continue posting entries throughout January without closing my year? Can I go back, lets say on January 25th and close my year for December 31st? Will this affect anything for my 2013 year? 
 Thanks, 
 Nick

Jenn5353 · Accepted Answer

Yes, you can work in Sage past year end and close at a later date. 
 INVENTORY - If you deal with inventory it has to be up to date and printed on December 31st. Sage is not able to print an inventory list for a particular date so you can't go backwards.

Jenn5353 · Answer

One more thing: Payables and receivables must be printed before you record any payments made or received in January. For example: One week after year end I make sure payables and receivables are up to date and match the trial balance, then I print an aged listing for both as at Dec 31st, then I can record payments made or received that week. Once something gets paid it doesn't show up on the aged listing so it won't match the TB.

Richard S. Ridings · Answer

Run the Aged reports not the Overdue Aged reports and they will always be accurate when you backdate them.

Sage 50 Canada

Posting more entries after Dec. 31 without closing the year

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