Change corporate year end dates

Question

I have a corporate client who is changing his year to a calendar year. How do I change the year beginning and end dates in Sage 50. Thanks for any help with this.

RandyW · Accepted Answer

All you need to do in Sage 50, is to go into setup and change the year end date for the short year*. 
 *provided that no transactions have been posted to the period (even if the transactions were later adjusted / deleted.)

kb121 · Answer

Thank you. I had tried that before but it will not let me change the date to Dec.31 2013 because there are transactions in 2014. The error message is that the date change must be later than my using date.

Smith and Co · Answer

You may want to read up on link below to ensure that the corporation has complied with conditions required to change year-end. 
 sbinfocanada.about.com/.../fiscalyear.htm 
 If conditions have been met and you have not posted too many transactions dated in year 2014 then you could restore an older backup where data files have not been moved to Jan/1/14. Otherwise the best option would be to leave Jan1/14 as having no transactions ( go into journal entires and choose by date with start and finish date as Jan1/14 - if any transactions then autoadjust to Jan2/14). When you have received the Dec31/13 year-end adjusting entries from accountant, post them and reconcile the trial balance. Once it is reconciled then you can create one journal entry to clear out all the 4000 and 5000 amounts into retained Earnings. Each time you need to pull up a financial for the Dec31/13 year-end you will have to use Jan1/14 as the date.

Smith and Co · Answer

If you were to pull up an older backup to restore first make sure you print off all the JEs fromJan/14 to current to ensure you have reposted every entry. Better year would to be restore to a new data file called something like 2014 to Re-do - that way you can compare the two data files side by side to see how entries were made and can even do a copy and paste within purchase and sales module if you have a lot of description typed in.

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Change corporate year end dates

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