Sage month end

MonsoonMonsoon Font Of All KnowledgeFMAAT, AAT Licensed Accountant Posts: 4,069
Really dumb question for someone proficient in Sage and who's used it for 6 years but nevermind....

I know about year end. Does month end do the same thing? I.e. does it 'lock' all transactions so it will warn you if you're going to post in a month that's been closed?

If so, do I have to do each month end since year end to lock last month?

I'm specifically asking re Sage Instant v10 (yes, old now I know!).

Ta muchly :)

Comments

  • sheelaghsheelagh Well-Known Registered Posts: 133
    Month end

    Month end is quite different to year end. It will
    1) post accruals and prepayments which you will have already set up in the nominal module,
    2) post depreciation journals according to the information you have set up in the fixed assets register
    3) clear the turnover figures
    There are tick boxes so you can choose which of the above you want to post.
    Sage detects which is the current month (or the month you are about to end) and will post journals dated at the end of that month. So if you want to run a period end for July 10, change the program date to 31/7/10. You don't need to run all months, but you might want to if you haven't previously posted month end journals in the current year. If you want to run month ends for each month, just keep changing the program date and run the period end.
    Lastly, it doesn't lock the month you have ended.
  • MonsoonMonsoon Font Of All Knowledge FMAAT, AAT Licensed Accountant Posts: 4,069
    sheelagh wrote: »
    Month end is quite different to year end. It will
    1) post accruals and prepayments which you will have already set up in the nominal module,
    2) post depreciation journals according to the information you have set up in the fixed assets register
    3) clear the turnover figures
    There are tick boxes so you can choose which of the above you want to post.
    Sage detects which is the current month (or the month you are about to end) and will post journals dated at the end of that month. So if you want to run a period end for July 10, change the program date to 31/7/10. You don't need to run all months, but you might want to if you haven't previously posted month end journals in the current year. If you want to run month ends for each month, just keep changing the program date and run the period end.
    Lastly, it doesn't lock the month you have ended.

    Thanks Sheelagh, that's very helpful. :)

    I don't think the version of Sage they are running has any way of setting up journals as you've described. The main reason I was wanting it was to lock prior months so I can't accidentally change the prior months after I've run management reports.

    I think I will carry on ignoring month end! I only have one client on Sage and I don't think they need it (which is probably why I've managed for so many years without it).

    Thank you :-)
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