Sage line 50 and Sage instant year end checklist

Running a year end in sage can be confusing and cause issues if not run correctly. The best option is to take it step by step

  1. As always first step is to back up Sage and print off a trial balance. Ensure all transactions for the year are posted  onto Sage. It will probably be some time after your year end before you are confident that all such transactions have been captured. Is is preferable not to post any transactions dated after the year end onto Sage.
  2. Run your normal month end procedure
  3. Check that Sage is set up with your correct year end date: Settings > Financial Year. This field is set to the year start month, rather than the year end month. You need to be careful when your period of account is not exactly 12 months.
  4. Change your program date to your year end date: Settings > Change Program Date.
  5. Reconcile all bank  accounts up to the year end date.
  6. Reconcile the VAT account up to the period end for which the last VAT return has been prepared.
  7. Make sure that all nominal accounts are included in the Profit & Loss Account or Balance Sheet, by checking entries in: Nominal > Chart of accounts > Edit > Check.
  8. Again back up your sage. Its important to name the back ups correctly and store some off site away from the PC for example in a drop box account. Also print out a hard copy reports ( including another year to date trial balance).
  9. Run the year end procedure via: Tools > Period End > Year End (checking that the disclosed Year End Journals date is your correct year end). On the bottom left there is an option to create a budget for the new year using the “Copy current year actuals” tick box
  10. If  you wish to compress your data, by removing the detail of all of the transactions for the year just ended, run: Tools > Period End > Clear Audit Trail (checking that the disclosed date is your year end). If sage is running fine and hard drive space are not compromised, its better to ignore this step and keep a higher level of historical data on Sage.
  11. Before posting new transactions, make sure that you are happy with the balances brought forward by running a trial balance.

If you require any asssistance with your financial year end we can help. Email or call us on 091-442882

Sage Training Galway

As part of our portfolio of training packages Do My Books offer training on Sage Instant Accounts and Sage Line 50 accounts.

The Training is carried out at your place of business and includes a comprehensive training manual.

The training program can be customised to suit your individual needs but a basic training course covers the following.

Program basics
Getting started
Account names and numbers
Bank transactions
Customers and suppliers
Service invoices
Products and stock control
Product invoices
Product credit notes
Statements and receipts
Nominal ledger
Bank accounts
VAT returns
Reports and information

If you require any further information in relation to Sage training Mayo, Sage training Galway or Sage training Limerick please do not hesitate to contact us on or phone 091 442882