Is there any way in Sage 50 Premier to have the deferred revenue and reserve accounts amounts roll over to the new year?
Sandy
Is there any way in Sage 50 Premier to have the deferred revenue and reserve accounts amounts roll over to the new year?
Sandy
Only the income statement sets balances to zero each fiscal year. Assuming the amounts you are referring to are on the balance sheet, they should remain between fiscal years.
Thank you for the info, you are correct my 2023 reserve amounts rolled over to 2024, but I need my deferred to roll over as well, how do I get my deferred accounts codes changed so they are on the balance sheet? Thank you
I guess you mean you posted deferred revenue to the income statement. Therefore you would create a new account on the balance sheet (usually liabilities) and post journal entries to move the balances using the appropriate dates.
Richard, that is exactly what I need to do, thank you so much for your help.
Sandy
Richard, that is exactly what I need to do, thank you so much for your help.
Sandy
*Community Hub is the new name for Sage City