We purchased this product last week and are having issues with set up. We got to the point where we thought we had everything set up, can enter invoices, vendors entered, able to print cheques, have our chart of accounts customized etc, but it seems we have missed something along the way. We use accrual based accounting and need to have the year broken into 13 periods.. when I look at my system settings there is a option to "Change to Cash based Accounting", which leads me to believe we should be set up as accrual based? Yet there is no mention anywhere of the process to set up the accounting periods.. I don't know if there was something I need to change for it to prompt me to do that, but I can't find it.

The primary use for me would be so that when I enter an invoice, I can assign it to a certain period.

I have called sage help contact and they are telling me this isn't a function it can do? I have read plenty of references that say it is capable of doing this, so that is my first question.. Can sage 50 prem. perform accrual based accounting? 

Is there something I need to go back and change to specify this?

A friend sent me a helpful guide she uses, except its for the US verison. In theirs it does state that once the choice has been made you cannot go back and change it (sue to IRS related law), could this be what I am running into?? In the US version it states that you would have to go and make a new company and restart the whole process if you made the initial incorrect choice.

Any input would be so greatly apprecitated!!