Year end
Posted: 03 May 2006, 23:56
I am a new user and want to post bank transactions into May, sage will not let me because our year end is 30 April. If I run year end can I then post transactions back into April or not?
You should be able to posts transactions in May, however, you should get a warning that the transaction is outside your financial year.
This is ok, but obviously annoying, so you want to get on and do your year end, but it is ok to post with the warnings.
The goal of the warning is to prevent you doing something like posting a transaction in 2050 by accident (if there was a lot of vat on the transaction the vat man would not like waiting an extra 44 years for his VAT and might tell you off and your accounts would not show it till then either.)
Always worth running a report to check for transactions that are back or future dated to spot these sorts of mistakes when you do a year end.