Month End

NOTE: Some month end features depend upon the variant of Sage 50 Accounts you're using. For example, depreciation is only available in Sage 50 Accounts Professional.

When do I need to run a month end?

Depending on how you use Sage Accounts, you may not need to run the Month End option.

You only need to run it if any of the following apply:

You run reports that use the month to date values, or if you check the month to date values in the customer or supplier records
You've set up automatic accruals or prepayments
You've set up fixed asset records with depreciation rates

To ensure your month end reports are accurate, you should ensure all processing for the month is complete before running Month End.

If you process your month end and then post transactions in a previous month, you must run your management reports again for that month.

Month End postings

When you run Month End, you can choose to do the following:

Clear turnover values	This clears the month to date values within the customer record > Sales tab, and the supplier record > Purchase tab. This option is not date sensitive. If you run Month End and select this, the values in the M.T.D. box on the customer and supplier records reset to zero. These values are used for reporting purposes.
Post prepayments	Any prepayments you've set up are posted for the month.
Post accruals	Any accruals you've set up are posted for the month.
Post depreciation	Any fixed asset depreciation you've set up is posted for the month.

Prepare for the month end

Check that you've posted all transactions for the month.
If you use the Product Valuation report, run this report now. You can't run this report retrospectively as any movements in stock during the new month affect the values. Therefore to produce accurate values you must run it on the last day of the month.
If you use recurring entries, ensure you've processed all entries for the month.
If you use Foreign Trader, revalue your foreign currency bank accounts using the Foreign Bank Revaluation Wizard.
You can run the foreign bank revaluation in the Month End window.
Run Check Data. If there are any errors in your data you must fix these before you continue. Read more >
Create a backup of your data files and store it in a safe place. Label this backup 'Before Month End'.
You can run Check Data and Backup within the Month End window.
Optional - Reconcile all your bank accounts with your actual bank statements
Optional - To ensure that your profit and loss and balance sheet reports are correct, post your monthly opening and closing stock journals..

Run a Month End

Click Tools then click Period End and click Month End.

Complete the Month End window as follows:

Check Data	If you haven't already, run this option to check your data for any problems. If there are any errors in your data you must fix these before you continue. For more information, please refer to www.sage.co.uk/mydata
Backup	If you haven't already, run this option to take a backup of your data.
Revaluation	If you use Foreign Trader and you haven't done so already, use this option to revalue your foreign bank accounts. Read more >

Month End Options

Set the month end date	Enter your month end date.
Prevent new transactions before this date	If you want to prevent users from posting into previous period select this option and enter the required date. Read more >
Set your month-to-date turnover to zero	To clear the values in the M.T.D. box within the customer record > Sales tab and supplier record > Purchase tab, select this option.
Prepayments	To post your automatic prepayments, select this option.
Accruals	To post your automatic accruals, select this option.
Depreciation	To depreciate any assets set up within fixed assets, select this option.

Click Run Month End then click Yes and click OK.

Prepare for the new month

Check your data

This ensures that you don't have any errors in your data files, if any errors are reported, you should correct these before proceeding. Read more >

Back up your data

Label this backup After month end - month year, for example, After month end - July 2014, and store it in a safe place. Read more >

Optional post month end task - Clear Stock

[BCB:102:Limitless - 50 Accounts - Year End / Period End:ECB]