What is a Sage 50 CA Accountant's copy?

4 minute read time.

Are you finishing off year end but will need to wait for your accountant to reconcile the year before you can begin entering transactions for the following year?

Year-end Tips and Tricks

If your accountant works with the Sage 50 CA Accountants version of the software, then at year end you can create a special version of the database that they can work with to make miscellaneous transactions entries.

About the Sage Accountant's Network

To be eligible to receive a copy of the Accountants Edition of Sage 50 CA, accountants must be members of the Sage Accountant Network (SAN). To join you would need a company name that reflects that you are with an accounting firm who does work for a diversity of fee paying clients. Three certification levels and training are available through Sage University. To learn more inquire with our Sage 50 CA sales team at 1-866-665-2559 and or contact us via this website.

To get started, ***Backup your database first*** and then go to the File menu > Accountants Copy > Create Accountants Copy….

For more instructions see the KB 15329 - How to create an accountant's copy?

Once your accountant is ready to send you the special .txt file to import. Follow KB 13367 How to restore from a revised Accountant's copy (KB 260-1007083 in French).

In the meantime, you can keep working.

NEXT STEPS

While your accountant is busy with year-end entries, on your end Sage 50 CA allows you to work in two years at once.

For more details about what can be done to allow working in 2 years at once, see KB 10125

Things to know:

Sage 50 allows you to post transactions to the current fiscal year and one prior fiscal year.
When posting to the prior year, you can't change the session date, but you can change the date of a transaction as far back as the first day of the previous fiscal year, and post the entry.
This entry will affect the prior year and will automatically roll the balances forward to the new year. Follow Article ID 13199 How will posting to a prior year affect the company?
The date should be changed manually in the module you want to post the entry in.
Payroll Cheque Run will not allow payroll to be generated in previous year.
Therefore, individual cheques will have to be issued.

*Payroll tips: Before creating the new year ask yourself if you do Payroll using the tax tables Sage 50 provides. This may be a concern if your year-end falls on the calendar year end of Dec 31st. Sage 50 CA software uses new tax tables on January 1 and July 1 of each year. If you're starting a new year at the calendar year end (Dec 31st) it may mean that payroll runs previous to the new year that are not completed will need to be manually calculated using the CRA or Revenue Quebec online payroll tax calculators. Once the calendar year has been rolled forward you can no longer make a payroll entry in the prior year with automatic calculations of the deductions

"Payroll should always be verified before the final pay in December so adjustments can be made while still in the correct year." - @Alywn

Software settings:

Check the Company settings to verify that the system doesn't deny the posting of transactions before a certain date. Make sure you are in single user mode and connected as the sysadmin user while doing this.

Go to Setup, Settings, Company,System
Ensure that the date in the Do not allow transactions dated before box is the beginning of the previous fiscal year in order to allow transaction up to the beginning of that previous fiscal year.
If not, change it.
Select OK.