Fiscal year closing?

Question

Hello, I'm currently trying to post transactions for December 2014....however, we have not completed our taxes for 2013. Business Works is telling me " Closing the month of December 2013" "Fiscal year will also be closed" What to I do ????

Coleen Graber · Answer

That is correct. If the last month of your fiscal year is December, and you are doing a General Ledger Close for December, Sage BusinessWorks also closes the year. There is no separate - Year End Close process. However, even if you close a month (or year) you can still post to prior months depending how you have elected to set up your options. 
 To post transactions to future or prior months: 
 -From the Utilities menu, select System Preferences, click Yes under the 'Allow prior month posting' heading. 
 -In Accounts Receivable, click AR, Utilities, Maintain A/R Parameters and select Yes from the 'Allow future posting' list. 
 Prior and future posting of transactions are allowed as follows: 
 General Ledger: 
 Post 24 months back for prior month postings 
 Post 12 months ahead for future month postings 
 (Example: If your current open month is December 2013 you will be allowed to post December 2011 through December 2014) 
 Payroll: 
 Post current quarter only 
 No future month postings are allowed in payroll 
 Payroll allows federal unemployment tax (FUTA) and state unemployment tax (SUI) to be posted to a prior quarter and year. 
 All other modules (A/R, A/P, C/M, I/C and O/E): 
 Post 12 months back for prior month postings 
 Post 1 month ahead for future month postings 
 (Example: If your current open month is December 2013 you will be allowed to post December 2012 through January 2014) 
 After closing the fiscal year, prior year adjusting entries can be posted to all modules except Payroll 
 -If a prior-year transaction affects General Ledger (G/L) revenue or expense accounts, the values will automatically be rolled into retained earnings. Other than reprinting financial reports no additional action is needed. 
 -Make the adjusting entry in the correct module. For example, to adjust the cash account, post the entry through the Cash Management module. Posting cash account adjustments directly in G/L does not post the information to the bank reconciliation. 
 -During any phase of the Physical Inventory process, do not perform a month-end or year-end close or rebuild in the Inventory Control module. Book quantities will not be retained for a relative inventory update after a close or rebuild. 
 Module's current month may be verified by selecting the File menu, System Status Report, Module Information

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Fiscal year closing?

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