Why Is Financial Year End So Difficult? (A Few Words From One of Our Sage Experts)
Summary
For example, there may be outstanding purchase invoices at the end of August, that aren’t allocated until the beginning of the new financial year in September. Some people choose to minimise the problem by blocking any transactions in the new year, so there is a clean starting point i.e. you don’t have items spread across deferred, current and waiting posting. Financial year end is inevitable, but there are some key measures to take to minimise the disruption:- • Ensure that all staff are fully trained in how the accounting software works and what they need to do. • All budget holders and staff involved with the accounts will need to be informed about what happens at year end and their responsibilities. • Have all the paperwork and passwords ready for the auditors and in the order they are likely to check it.” For the details on exactly how to prepare and implement Year End in Sage, down load the document relevant to your school below: Back Up of Sage 200 using Microsoft SQL Server Studio Manager Want to talk to someone?
Classifications
AskAI Classifications
LabelsLinked Companies
