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FormerMember

Changing the fiscal year's end month

Posted By FormerMember

I'm building a new company in order to change my fiscal year end from June to a calendar year. I have copied the old company and exported each month's journal entries (Jan '19 - June '19). Do I need to import just one month at a time - then close that month - then repeat for each month? Or, can I import Jan through June at one time by exporting my previous company journal entries for a specific date range of 1/1/19 - 6/30/19? If I do just import one month at a time should I only create G/L Data Files for January, enter Initial Account Balances and then import each month?

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    Hi Waite!

    In answer to your questions, yes, you need to import just one month at a time - close the month - repeat. 

    First create your GL Data files for the 1st month of your new year, then enter the Initial Account Balances. At that time you can import the journal entries for the 1st month. Close the month after you verify that your entries are correct. 

    Please search on "How to change the G/L fiscal year end" in support.na.sage.com for Sage BusinessWorks for more detailed information. The support article has a PDF that gives step by step information on how to proceed.

    Hope this helps!

    Cyndee

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  • 0

    Hi Waite!

    In answer to your questions, yes, you need to import just one month at a time - close the month - repeat. 

    First create your GL Data files for the 1st month of your new year, then enter the Initial Account Balances. At that time you can import the journal entries for the 1st month. Close the month after you verify that your entries are correct. 

    Please search on "How to change the G/L fiscal year end" in support.na.sage.com for Sage BusinessWorks for more detailed information. The support article has a PDF that gives step by step information on how to proceed.

    Hope this helps!

    Cyndee

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