Year End Close and issuing cheques (payroll as well) after the year end Oct 31 2019??

Question

I am new with SA Canadian edition. Our year end is Oct 31/2019 and I need to issue payroll, cheques and bank deposits. I can't move forward close the year as I haven't received year end entries from the accountant yet (obviously) Is there an easy way to do this? Also, once I do create the new year, it appears that I would have to post the y/e twice, first to prior year and then to my new year?? This doesn't make sense and I am sure I am missing something fairly simple.

Richard S. Ridings · Accepted Answer

Don't wait for the accountant (no offense to accountants) but they will take longer than you can wait (it's the nature of the work). The program allows you to work in two fiscal years at once time, current and previous. I would take a proper back up of your file and then move the session date to November (Maintenance menu Change Session Date or New Year) and get on with your work. 
 Your entries that still need to be posted back into Oct only need to be posted once using the proper Oct dates. Your balance sheet Retained Earnings Account will be updated properly for the new fiscal year automatically. 
 Have a look at the sample file and post a couple of entries back into Jun 30 of the previous fiscal year. Make sure you review the reports before you post, then after you post an entry, check to see which accounts are updated. Make sure you post something to the Revenue or Expenses and check Retained Earnings in the current year (which should be 2025).

Sage 50 Canada

Year End Close and issuing cheques (payroll as well) after the year end Oct 31 2019??

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