How to Change Advance the Fiscal or Calendar Year in Sage 50

To   verify   the Current Year Dates   you   can   go to Setup > > Settings>> Company >>Information.  If  you  see  that  the  present  fiscal   is  same  with  the  calendar year, the software will start  both the years  at the same time.

Ø  Click OK to shut down the Settings window.
Ø  Click on the Maintenance tab
Ø  Click on Check Data Integrity. If you are using Sage 50 First Step, choose Tools, click For My Accountant and then click  Check Data Integrity
Ø  Please make sure that the ‘Data OK’ box is ticked on the bottom of the Integrity Summary window.
Ø  Go to the window named  New Fiscal and Calendar Year
Ø  Click Yes to take a backup.
Ø  After the backup gets completed, the Information window will  pop up  to inform that  the years have been created successfully.
Ø  Click OK to  proceed
Ø  Select No if you want to clear the old data.
Ø  Close down the Checklist window.
Ø  Close down Daily Business Manager window.
Ø  Now you will see that the new fiscal/calendar year has taken effect.
Ø  Repeat steps above to check data integrity once again.

In this case, you will need to roll forward your payroll year

Please follow the steps below-

Ø  If you move into a new calendar year, the software will reset all YTD payrolls to zero.
Ø  Then, the program won’t automatically calculate the payroll taxes for the previous calendar year.
Ø  Take a proper data backup.

Please note– In case you are using Sage 50 First Step: you   need to  end  the   calendar year even if there is no payroll . Also,  you need to move the session date to 1^st January. In Sage Premium, Quantum or Pro, you must log in with admin rights, as a single user.

Ø  Click  on Maintenance
Ø  Click Start New Year.
Ø  Click on Calendar year.
Ø  Click  OK

In this case, you will need to roll forward your fiscal year.  Please follow the steps below-

Ø  Take a proper data backup.
Ø  Check the fiscal year information by going to   Setup>>Settings >> Company,  >> Information 
Ø  Specify   the  start and end dates  of  the current fiscal
Ø  Click on Check Data Integrity. If    you are using Sage 50 First Step, choose Tools, click For My Accountant and then click  Check Data Integrity
Ø  Please make sure that the ‘Data OK’ box is ticked on the bottom of the Integrity Summary window.
Ø  In Sage Premium, Quantum or Pro go to Maintenance > >Check Data Integrity.
Ø  Make the Data OK information is shown at the bottom.
Ø  Print the year-end reports you require.
Ø  In Sage 50 First Step click Tools >>For My Accountant, >>Start New Year.
Ø  Then   click   Maintenance > > Start New Year.
Ø  Select OK.
Ø  click No on   being prompted to clear old lookup data,  
Ø  Close down the To do list   and  Check List  ,  if  open  
Ø  If you are using Sage 50 First Step, choose Tools, click For My Accountant and then click  Check Data Integrity
Ø  Please make sure that the ‘Data OK’ box is ticked on the bottom of the Integrity Summary window.
Ø  In Sage Premium, Quantum or Pro go to Maintenance >> Check Data Integrity.
Ø  Make the Data OK information is shown at the bottom.
Ø   Click Setup > >Settings > >Company > >Information to ensure the dates have   been moved forward. The current dates must   be matching with the new dates.

Ø  Click    Maintenance   > >Change Session Date.
Ø   In  Sage 50 First Step,  click Tools > >For My Accountant > >Change Session Date
Ø  Enter the first day of the new fiscal  /calendar  year
Ø  The New Fiscal and Calendar Year window will open up.   Click yes to take a backup.
Ø  After the backup gets completed, the Information window will pop up to inform that the years have been created successfully.
Ø  Click OK to  proceed
Ø  Select No if you want to clear the old data.
Ø  Close down the Checklist window.
Ø  Close down Daily Business Manager window.
Ø  Now you will see that the new fiscal/calendar year has taken effect.
Ø  Repeat steps above  to check data integrity once again