SAGE 300 ERP RollOver

Hello Everyone,
I recently created a new year(2024) for a client's company, but the document date and posting date are 2024 instead them being DECEMBER 31, 2023. Now, I am not sure if it's an error or it's okay. My idea is to reverse the entry and repost the batch with the correct date, but I am not too sure on the accounting implications.

Batch screenshot

Top Replies

  • Hi  great question, I assume the Closing Entries generated and auto-posted without human changes?  Before you worry too much, maybe check the Fiscal Calendar setup, for some reason is their 2023 Period 12 ending 2024/01/31?  Its not impossible and would explain this.  If the TB is perfect for opening period 1 2024 then there isn't anything to worry about - remember you can always reverse and re-post these batches anytime in the future if it turns out it is a problem.

    Check the dates for 2023-12 in the Fiscal Calendar first and let us know from there Blush  Cheers...Tim

  • 0 in reply to Accsys Consulting AU

     I checked the calender, and it's set to have 13 fiscal periods.
    Period 1 running from 01.01.2023 - 01.31.2023 
    Period 13 running from 01.01.2024 - 01.31.2024
    I am wondering if this could have caused the issue.
    Cause of that, they are having transactions of the closing entry batch showing wrong dates. I have attached a picture for further clarification.

    Transaction Listing REPORT

Reply Children
  • 0 in reply to Emmanuel Siame

    Hi @Emmanuel, can you post a screenshot of their Fiscal Calendar under Common Services?  Maybe it will help me think of something.  I haven't much experience with 13 accounting periods so I'm not sure if its normal for the 13th period to go into the first month of the following year.  Anyone else? Apologies...Tim

  • 0 in reply to Emmanuel Siame

    In the U.S., a standard 13 fiscal period year is used to have equal, 13-week quarters (4/4/5).  It sounds like you want a 12 fiscal period year, since you want to start January 1 and end December 31, but your client may want 13-week quarters.  You need to check with them.

  • 0 in reply to Emmanuel Siame

    HI Emmanuel, 

    If your last period (13th period in your case) is 01.31.2024 then that is this date that the Closing Entry will post to (but as you can see, it's posting the CLS period) so it's doing exactly what is specified in your Fiscal Calendar..  if your Fiscal Year End ended in June 30th it would post the entry on June 30th.. not all fiscal years are based on Calendar year.. your End Date is whatever is specified in the Fiscal Calendar. 


    David Crampton