Hello,
I've come back to work doing bookkeeping and I have two clients that need their bookkeeping records caught-up, both use Sage 50 Premium (2022). Their accountant told them to get Sage Accounting, wouldn't have been my choice given the restrictions Sage products have trying to work in prior year records while staying current in the current year.
Both companies have forged ahead and rolled over fiscal years without actually completing all the posting for those years. There are entries in 2017/2018/2019/2020/2021 right through 2022, the fiscal year end is Oct 31/xx.
Yes! that means nasty notes from CRA (large assessments), gst is messed up, payroll is limping along... neither banks nor credit cards have ever been reconciled, it's a challenge for sure and I'm racking my brain for the best strategy to use if I'm stuck with the Sage restrictions? Hoping one of the community persons here has a somewhat efficient work-a-round.
I am not looking forward to informing my new boss that it's going to take a LOT more time to get them to current period bookkeeping activities. They've just spent a whole bunch of money and followed the advice of their Accountant just to get to this point and I am not really hopeful to getting a "no problem, just do this ....'" response from Sage50 support. Had to ask though :)
Optimistic I'm wrong about the Sage restrictions. I know why they have them, and it's great if the company has a dedicated bookkeeper, but I don't think they understand some of their small business client's real needs.
Thanks for reading, I can't be the only one in this situation especially after the last couple years of chaos. I see this at few other businesses that are scrambling to get caught-up/restarted or whatever the latest challenge is for small businesses right now.
