Posting into Future and Prior periods in Sage 50

Posting into Prior and Future fiscal years is a necessity sometimes and in this post we will quickly go over how to do that in Sage 50 Canadian edition. In Sage 50 you can post into your prior fiscal year, but not into periods before the prior.  To do this just change the date in the transaction window you want to post to, changing the main session date will not work for this, it is the date in the transaction (invoice, paycheque, etc) itself that you want to post that would need to be changed to the prior year. Posting into the prior year will affect year end totals as normal, and the following article goes over that indepth.

Sometimes though you may want to restrict posting into a prior period, perhaps you have already done bank reconciliations for those months and don’t want to alter them with adjustments.  For that you can go to Setup-Settings-Company-System and there you will find an option called Do Not Allow Transactions Dated Before XXXXXX.  The following article goes over how to do that step by step.

When you want to post into future period, after the current session date, there is a setting in setup-settings-company-system that allows for that.  That setting also has an option underneath it that can allow you to post payroll and general journal transactions in a future fiscal or calendar year.  This article goes over the process, though it’s worth noting that payroll will be need to be manually calculated if posted into a future calendar year.  For AP and AR transactions like invoices and cheques there is not really a direct way to post into a future fiscal or calendar year without advancing the year, but there are some workarounds which can be used, and as usual for most of these settings changes you will need to be in single user mode with no other windows open in the program.