For those Sage 200 Users preparing for their March 2020 Year End, please remember there are a few processes for which you may wish to start preparing. As often it's been a year since you last went through the process, here's some helpful reminders and tips for a successful and smooth year end!
At Acuity, we recommend taking a Pre-Year End Backup. This serves two purposes; a roll-back point, should anything go awry during the Year End, so that there’s an immediate data restore, and also as a Pre-Year End Archive, preserving the reporting position for Accountants/Auditors. (captured prior to the Archiving of all the previous Year’s Profit and Loss Transaction, the Zeroing of the Profit and Loss Account Balances, and Posting of the Accumulated Profit and Loss, to the Nominal Account of the same name, also referred to as the Retained Earnings Account).
The point at which we would ask that you contact us, to take your backups, is when you have closed all your Periods and are ready to run the Year End. This ensures that, should in the rare event, you need to restore from backup, you don’t have to repeat any of the pre-closure tasks. You’re Accounting Periods should be set out as below.
Year Ends are usually a good time to also review areas of your system with our suggestions being:
Review Transactions volumes
Evaluate if data can be Purged or Archived
Please bear in mind that this process may take some time, and therefore planning, and we recommend that you run your own testing, on an updated Copy/Test Company.
A few useful tips:
Run your own testing on an updated copy/test company
Remember there is the Post Year End Profit and Loss Transaction Archiving Routine
Remember to review the Opening Year Financial Reports
In the meantime, the Acuity Support Desk is poised and ready to assist with a Single Company Backup. If, however, there are other Companies requiring a Year End, then we once again ask that you contact your Acuity Account Manager, to arrange for dedicated Consultancy time.
Please contact our Support Desk, with any further queries - We’re here to help.
Choosing Acuity Solutions means choosing one of the top 5 global Sage business partners, with over 20 years' experience in the Sage product marketplace, we have previously held the Sage "Business Partner of the Year" awards for Sage X3 and Sage 300.