Confusion about making year end adjustments

I've got a new customer's company file with 2 fiscal years of data, and I'm about to start a new fiscal year

FY2011 ends June 30,2011, FY 2012 ends June 30,2012 - I will be starting FY2013

before starting FY2013, I was going to do a 'save as' so that I could, if need be, access the FY2011 data from the backup company file

Before starting the process, I was reviewing the year end checklist in Sage, and in article 11403, both state,

  1. Make year end adjustments
    • Ensure that the 'Do not allow transactions dated before' option is set.
    • Process your adjustments with a date in the previous fiscal year.
    • Uncheck the 'Do not allow transactions dated before' option after you finish making adjustments

I presume in point 1, 'option is set' means 'option is checked' - if so, before don't allow transactions dated before what date ? july 1,2011 ?

if I set the date to july 1,2012 - I presume point 2 '.. adjustments with a date in the previous fiscal year' can't be done ?? because Sage won't allow transactions dated before July 1,2012

and as to point 3, when I'm done my adjustments, instead of 'unchecking', don't I want to leave it checked but change the date to july 1,2012 - so no one can enter transactions in the prior year (FY 2012) ? Of course I am assuming that Sage will allow me to make YE adjustments per the accountant at a later time, just by changing the 'allow transactions dated before...' date


can someone clarify my misunderstandings ?

Parents
  • 0

    I'm assuming that you realize that once you roll into the July1/13 new fiscal year you will no longer be able to enter any transactions dated June30/11 or prior even if you uncheck the box. So if any transactions needs to be posted in the Jun30/11 year it needs to be done now before moving into the July1/13 fiscal year. You will be able to enter transactions dated between July1/11 to Jun30/12 for previous year.

  • 0 in reply to Smith and Co

    for this customer I'm working in Dec 2012, so that issue is not a concern, thanks

    but we have new customer, behind in recording transactions, fiscal year is Nov - Oct, so this week will start a new fiscal year

    so if I'm still processing bank recs prior to Oct 31,2011 and I know more transactions will need to be recorded (we just started the work, won't be done in 5 days because we know there are lots of missing entries) - can I change the session date to Nov 1,2013 and not start the next fiscal year until the next bank rec is Nov 2012 ?

    if not and I must start a new fiscal year, can I even do a Jan 2012 bank rec once the session date is Nov 1,2013 ?

    I suspect not, so do I create a backup of the company file now (or 11:59 pm on Oct 31st) so I can do bank recs up to and including Oct 2011 ?

    and if I create a transaction in the backup company, would I create the same transaction in the current company dated Nov 1, 2012 ? so that AR / AP are correct ? but then what does the Nov 2012 bank rec look like with all these transactions ?

    or do we cram to finish bank recs up to Nov 2012 before this coming Friday ?

  • 0 in reply to Roger L

    Starting a new fiscal year is moving the session date to November.  Moving the session date to November is starting a new fiscal year.  There is no either/or.

    If you are still processing bank recs for last fiscal year, then there is a good chance you have not completed all entries to balance the bank, nor have you posted the accountant's year end adjusting entries to last year because the taxes are not done.  I would cram if I could and forget about keeping up to date.  Sage programmers will not allow us to post to two years ago to clean up even in our Accountant's Edition so you are stuck with a not-so-ideal situation.

    Your choices essentially are to stop bookkeeping until last year's year end is fully completed with adjusting journal entries from the accountant, or if you need to move your session date to Nov/13, then you and the owner need to be ok with posting those entries to the first day of Nov/12 and not adjusting the previous year's income statement.

  • 0 in reply to Richard S. Ridings

    I agree with Richard - there is no point in starting the Nov1/13 new fiscal year until the Oct31/11 year end has been completed in full. Your client is this far behind anyway so being another 3 - 4 months behind in the new Nov1/13 fiscal year won't be that bad (I hope) and once you get the AJEs from Acct for the Oct31/11 YE then you can move to Nov1/13 and still work on the Oct31/12 year. If you need to make up cheques or do payroll then you could do a 'Save As' and call it 'company name Chq Printing Only'. Make sure you post everything - not just print chqs and then not post it - and then once you have completely finished off the Oct31/11 YE and  moved fiscal year into Nov1/13 then you can re-enter the current  year transactions using the journal entry from the Chq Printing Only company.

  • 0 in reply to Smith and Co

    I'm concerned that my customer will erroneously set the date to Nov 2013 but we're ready

    so as a alternate strategy

    can't I create a save-as Oct 2011 company at 11:59pm on Oct 31st,

    print a trial balance at that moment,

    complete the bank recs to Oct 2012,

    add the year-end entries per the accountant,

    print a final trial balance

    at the same time, record Nov 2013 ( and beyond) transactions as normal, with the current company file

    and once every thing is done with the Oct 2011 company, create one JE in the current company file to net the first trial balance to the final trial balance - for example, the current company JE would include what would've cleared out the income/expense accounts in the Oct 2011 company, and adjusting retained earnings

    this will get the GL up to date (might have to temporarily unlink accounts)

    the only issue is outstanding transactions, but I'm reconciled to Oct 2011 and I can reset the Nov 2012 bank rec, and enter the outstanding transactions

    what am I missing with this strategy ??

  • 0 in reply to Roger L

    Unknown said:
    I'm concerned that my customer will erroneously set the date to Nov 2013 but we're ready

    I'm confused.  I thought this whole thread was about the fact that you are not ready unless you are willing to go outside the normal operation of the program.  And how did you get to November dates when your first post indicates problems with a June year end?

    Anyway, you do need to realise that each file contains all years going back at least 7 years (Pro) or 100 years (Premium and Quantum).  So at this stage you move forward to a new year, when there are two years already in the file, you will be able to still see the trial balance from that first year, the second year and now the current third year.

    Do you need to keep copies of the files as of year end?  No but I would do it as you suggest.  You will be posting double entries (one set in the old file and one set in the current file).

    Once your session date is in the new fiscal year, you will not be able to alter that first year's books.  You will have to post the entry as I already mentioned, on the first day of the second year and post only to the Balance sheet for all accountants adjusting entries.  If you make sure there are no other entries posted that day (if there are, move them to the next day), you will be able to use that first day to check the balance with the previous file as the balance sheet should match on that first day, after you post the adjusting journal entries from the previous year end.

    Unknown said:
    ...and once every thing is done with the Oct 2011 company, create one JE in the current company file to net the first trial balance to the final trial balance - for example, the current company JE would include what would've cleared out the income/expense accounts in the Oct 2011 company, and adjusting retained earnings

    I think this will work, though I personally post every entry an accountant gives me individually.  I find it much faster and more complete in the long run, than doing the math myself and possibly getting it wrong.  For audit, it will also match exactly and no one has to do math in the future to validate.

    Unknown said:
    this will get the GL up to date (might have to temporarily unlink accounts)

    NO, NO, NO, NO.

    1) You are using the Accountant's Edition which allows you to post directly to linked accounts, there is no need to unlink them

    2) Only use that power for the purposes of good, not evil

    3) Seriously, the unlinking of accounts will unbalance the subjournal from the balance sheet.  The only reason we have the ability to post to linked accounts is to correct  the imbalance that may have been created by users unlinking the accounts themselves (although I saw as set of books where an accountant unlinked the account to post an entry last week - we are still trying to track down that accountant to find out why).  We should only use it to balance the subjournal to the balance sheet, not the other way around.  If you do unlink, and there are foreign currency entries, you will also lose the reporting capabilities.

    Unknown said:
    ...and I can reset the Nov 2012 bank rec, and enter the outstanding transactions

    what am I missing with this strategy ??

    Why don't you just get the books caught up so you can get the Dec 2012 bank rec done?  If you have to reset it to correct it, then you have already determined that it is complete.  Why worry about the bank rec in Nov 2012 if you have already posted it?

  • 0 in reply to Richard S. Ridings

    june vs november dates

     the original post was about a customer which has Jul - Jun year end

     I'm reconciling the bank stmts up to Jun2012, and I need to move to a new FY

     no issues with moving to a new year end other than my confusion  re. a statement in the Sage document

    november dates

     something Smitco noted as part of my initial inquiry, about not being able to record transactions

     with a date prior to two fiscal ago, tweaked my concerns about another customer, which

     has a Nov - Oct year - maybe I should have started a second post

     And we are still doing bank / credit card recs pre Nov 2012, which will not be possible

     with a session date of Nov 1, 2013

     I understand Smitco's process of copying the company file called 'Chq Printing Only'

     I'm trying to understand the comment

         Make sure you post everything - not just print chqs and then not post it -

         and then once you have completely finished off the Oct31/11 YE and

         moved fiscal year into Nov1/13 then you can re-enter the current year

         transactions using the journal entry from the Chq Printing Only company.

     is 'post everything' referring to posting anything related to printing payables and payroll cheques ?

     ie. process the full payroll cycle, including remittances

     ie. entering vendor invoices and payments

     or is 'post everything' including receivables, etc -

        ie. all transactions that they currently record on a daily basis ?

     then the comment

         then you can re-enter the current  year transactions using the journal entry from the

         Chq Printing Only company

     got me confused, do I re-enter just the journal entries or do I re-record the actual transactions ?

     I thinking the latter in order for the sub journals and payroll YTD to be correct ?

     but I need clarity here?????

     these questions led me to rethink the duplicate company idea

     what if I create a copy of the company and called it 'pre Nov 2012' to be used for bank & cc reconciliation

     and the customer uses the existing company to record Nov 2013 and beyond

     no change to the customer process

     I get a trial balance of 'pre nov 2012' company as of Nov 1,2012

     I finish recording the bank/cc recs in 'pre nov 2012'

     I enter the accountant's AJE (one entry for each of the accountant's entries)

     I get a final trial balance of 'pre nov 2012' as of Nov 1,2012- showing cleared income/expense accounts,

     etc

     now for every GL account, the difference between the final TB and the initial TB is recorded as

     one AJE on Nov 1, 2012 in the existing company file - isn't this the equivalent of reentering the

     transactions into the second company ?

     your comment

        'You are using the Accountant's Edition which allows you to post directly to linked accounts,

         there is no need to unlink them'

     is true, but does that mean that I need a backup copy of the customer's company file on my system

     where I record these transactions, and then I restore the company file back on the customer's system ?

     if all this can be done, the only thing to deal with are outstanding transactions created in 'pre Nov 12'

     company as part of the bank/CC reconciliation that need to be in the existing company file for future

     reconciliation

     couldn't this could be handled by resetting the bank rec on Nov 2012, and reentering these outstanding

     transactions ?

    doesn't this process allow the customer to record daily transactions, allow me to finish reconciling pre Nov 12 ? and update the Nov 2012 - Oct 2013 with the correct account balance ?? or am I missing something ?

  • 0 in reply to Roger L

    There is too much here for me to look at today, however,

    Unknown said:
    ...maybe I should have started a second post

    There are no real forum rules here for some reason, but in general it helps us help you if you only post one issue per thread.  When I went back to figure out the issue, I went to the first post where you stated what your problem was.  I didn't realise it was a problem for a different client than you are currently asking about and irrelevant.

    Unknown said:
    ...but does that mean that I need a backup copy of the customer's company file on my system

     where I record these transactions, and then I restore the company file back on the customer's system ?

    When you said, again in your original post

    Unknown said:
    I've got a new customer's company file with 2 fiscal years of data, and I'm about to start a new fiscal year...

    I'm afraid I have to assume you have what you say you have and that you are doing the data entry in your office.  If that is not the case, then you need to tell us what is going on so we can help you.  I know you are a business partner, and assume you are using the AE and doing so on your own computer because you have not told us otherwise.  The advice we give can be dependent on that information, just as the version of the program, etc. is pertinent in some cases.

    Unknown said:
    ... couldn't this could be handled by resetting the bank rec on Nov 2012, and reentering these outstanding

     transactions ?

    As a bookkeeper myself, I don't post a bank rec unless it is balanced and ready to be posted.  I would never consider just resetting the bank rec to include more entries that should have been there to begin with.  That means I have not done my job properly.  If I was not aware of the entries and found out about them later, then that is different.  The Outstanding Transaction Detail Report can be reprinted, if you can post the entries, and it will now show the new outstanding entries with flags to indicate they were posted after the rec was done.  But only if they can be posted in Nov/12, though I thought Oct was the year end and therefore there was a problem with the Oct/12 entries, not the November ones.  If I have any clue now about what year we are talking about, when you move to the new fiscal year Nov/13, then Nov/12 is the first month of last year and you can do the bank rec for that month any time before Oct /14 at least.

    I'll let Smithco handle the posting of cheques in a separate file because it seems as if you have not attempted it yet and to really understand you need to take a sample file and test out the process.

  • 0 in reply to Richard S. Ridings

    to test Smitco's process, I created a new 'actual' company, generic GL, starting date Nov 1,2011

    with session date of

     Nov 1,2011, I created a vendor and recorded a 100.00 pay later invoice

     Nov 2,2011, I paid 20.00 of this invoice

     Nov 30,2011, I paid another 30.00 of this invoice

     Dec 1,2011, I reconciled the Nov stmt (opening bal 0.00 ending balance -20.00)

                            - leaving an outstanding transaction

     oct 31,2012, run & save trial balance and vendor aging

        tb       dr   cr

        bank          50

        ap            50

        supplies 100

        vendor aged -> 50.00

     nov 1,2012, successfully started new fiscal year, no data cleared

        there is no need to enter transactions in this FY for testing purposes

     oct 31,2013, run & save trial balance and vendor aging

        tb        dr   cr

        bank           50

        ap             50

        ret earn 100

        vendor aged -> 50.00

     oct 31,2013 - save 'actual' company as "For Cheque Only" company

     in 'For cheque only company', with session date

     nov 1,2013, successfully started new fiscal year, no data cleared

     nov 2,2013, my customer, recorded a 200.00 pay later invoice

     nov 3,2013, and paid 75.00 of this invoice

        tb        dr   cr

        bank           135

        ap             175

        ret earn 100

        supplies 200

        vendor aged -> 175.00 (125.00 + 50.00)

     so now, back to the actual company, with session date of

     oct 31,2013 I reconcile bank stmt from Dec 2011, (opening balance -20.00, ending balance -100.00)

                 so I pay the remaining 50.00 on the first invoice with a date of Dec 10,2011 & reconcile

        tb        dr   cr

        bank           100

        ret earn 100

        vendor aged -> 0.00

     let's say that everything is now reconciled, and accountant's AJE have been done

     there is no need to post anymore transactions, prior to Nov 1,2012

    If I understand Smitco's process, now in the actual company, I need to, with the session date

     nov 1,2013, successfully start new fiscal year, no data cleared

     nov 2,2013, record a 200.00 pay later invoice

     nov 3,2013, pay 75.00 of this invoice

        and anything else my customer recorded in the "For Cheque Only" company

        tb        dr   cr

        bank           175

        ap             125

        ret earn 100

        supplies 200

        vendor aged -> 125.00

    is this correct ?

    now my customer runs bi-weekly payroll, so would that need to be re-run in the actual company ?

    if not, do they run payroll in the "For Cheque Only" company until the end of the year

           and I post only the journal entries in the 'actual' company

           and they generate the T4'S from the "For Cheque Only" company

  • 0 in reply to Roger L

     

    to test my close-year end process hypothesis,
      that will allow my customer to keep working with the current
      company in the new FY2014, including completing 2013 payroll, and starting 2014 payroll

      and allow me to finish reconciling FY2012 in a second company, and synchronize the two

      the goal is to not have to double-enter 100s of FY2014 transactions per Smitco's process

    I created a new 'actual' company, generic GL, starting date Nov 1,2011
    with session date of
      Nov 1,2011, I created a vendor and recorded a 100.00 pay later invoice
      Nov 2,2011, I paid 20.00 of this invoice
      Nov 30,2011, I paid another 30.00 of this invoice
      Dec 1,2011, I reconciled the Nov stmt (opening bal 0.00 ending balance -20.00) - leaving an outstanding transaction
      oct 31,2012, run & save trial balance and vendor aging
         tb       dr   cr
         bank          50
         ap            50
         supplies 100

         vendor aged -> 50.00


      nov 1,2012, successfully started new fiscal year, no data cleared
         there is no need to enter transactions in this FY2012 for testing purposes
      oct 31,2013, run & save trial balance as at nov 1,2012 and vendor aging as at nov 1,2012
         tb        dr   cr
         bank           50
         ap             50
         ret earn 100

         vendor aged -> 50.00
     
      oct 31,2013 - save 'actual' company as "To close FY2012" company

      in the actual company, with session date
      nov 1,2013, I successfully started new fiscal year, no data cleared
      nov 2,2013, my customer, recorded a 200.00 pay later invoice
      nov 3,2013, and they paid 75.00 of this invoice
         tb        dr   cr
         bank           125
         ap             175
         ret earn 100
         supplies 200

         vendor aged -> 175.00 (125.00 + 50.00)



      meanwhile, using the 'To close FY2012' company, with session date of
      oct 28,2013, I run & save trial balance as at oct 31,2012 and vendor aging as at oct 31,2012
         tb        dr   cr
         bank           50
         ap             50
         supplies 100

         vendor aged -> 50.00

      oct 28,2013, I reconcile bank stmt from Dec 2011, (opening balance -20.00, ending balance -90.00)
                  so I pay another 40.00 on the first invoice with a date of Dec 10,2011 & reconcile
                  leaving 10.00 outstanding/unreconciled

      let's say that everything is now reconciled (Jan - Oct 2012), and accountant's AJE's have been done
      there is no need to post anymore transactions, prior to Nov 1,2012

      using the 'To close FY2012' company, with session date of
      oct 28,2013, I run & save trial balance as at oct 31,2012 and vendor aging as at oct 31,2012
         tb        dr   cr
         bank           90
         ap             10
         supplies 100

         vendor aged -> 10

      I created a 'save as' of the 'To close FY2012' company, calling it 'Closed FY2012'
      And I back it up


      Now I open the 'actual' company
      -------------------------------
      I'm ready to update the 'actual' company with the net result of all my FY2012 closing transactions
      The difference between the TB at the beginning of the closing process and
      the TB at the end of the closing process represents all the transactions I had to do.

      So I could create a final adjusting journal entry in the 'actual' company, dated Nov 1, 2012 for this
         aje       dr   cr
         bank           40   (90 - 50)
         ap        40        (10 - 50)
         supplies   0        (100 - 100)
     
      with a session date sometimes in 2014 (if it took that long to close FY2012 with the accountant's entries)
      I run a trial balance as of Oct 31,2013
         tb        dr   cr
         bank           50
         ap             50
         supplies 100

         vendor aged -> 50
       
      I run the 'all journal entries' report for Nov 1, 2012 and I moved any transactions to Nov 2nd
         reserving Nov 1st for my adjusting entries

      I apply the final AJE as of Nov 1, 2012
         aje       dr   cr
         bank           40   
         ap        40        

     
      but I can't use AP on a journal entry ??? not even with the accountant's edition ??
      but the AP aged report shows me what supplier accounts were affected (invoices,payments) when I closed FY2012
        so I could reenter those transactions
      the same would apply to the AR aged report

      so I need to apply the final AJE, excluding AP/AR,
        and apply AP/AR as individual supplier/customer transactions dated Nov 1, 2012

      I run a trial balance as of Oct 31,2013, after my adjusting entry
         tb        dr   cr
         bank           90
         ap             10
         supplies 100

         vendor aged -> 10

      I can run the 'all journal entries' report for Nov 1, 2012 to see/confirm all the adjustments

      Now to reconcile the Nov 2012 bank statement
         the 'actual' company statement opening balance is the same as it was in the 'Closed FY2012' company, -20$
         and all adjusting transactions for FY2012 has been recorded in the 'actual' company

         so if the statement end date is Nov 1,2012
         and the statement end balance is per the Oct 31, 2012 bank statement
         I can/should be able to reconcile the 'actual' company to the same balance as the 'Closed FY2012' company

         and then a second reconciliation from Nov 2 - 30 should balance to the bank statement

    In conclusion, I'm double entering ONLY the transactions required to close FY2012
    My customer keeps working as usual, with no business impact

    Am I missing anything ?

  • 0 in reply to Roger L

    I am assuming that because you are a bookkeeper with multiple clients, you are using the Accountant's Edition of Sage 50.

    If so, this whole thread can be answered with a very simple solution (remember the software was called Simply Accounting once Smile)

    Have your client give you an "Accountant's Copy" instead of a backup. You work on what you need to, they keep working as usual. When you are done they can import the entries you have made without disrupting their work. See the Help files for instructions on doing this.

  • 0 in reply to Debbie Klassen CGA

    but will they be able to import the entries in FY2012 when they are doing business in FY2014 ?

  • 0 in reply to Roger L

    Debbie, I specifically did not mention the Accountant's copy of the option because crbookkeeping is catching up on so much backlog and keeps mentioning wanting to

    Unknown said:
    reset the Nov 2012 bank rec, and enter the outstanding transactions

    The only reason I can think of why anyone would want to do that is because there may be cheques that show up in subsequent bank statements that had dates from prior months.  I have not tested the Accountant's copy for years because of this limitation and Sage has not indicated any changes yet, but you cannot post anything but General Journal entries into an Accountant's Copy, so it is useless for bookkeepers and consultants who need to post cheques, payables, receivables, etc.

    crbookkeeping, as far as I know, the limits still exist.  You can only post entries in the current and previous fiscal years.  If you are worried about entries that crop up in later bank statements, I am not sure why you don't look through those next 6 months of statements and if there is anything dated in Nov/12 or before, just post it before you post the Nov/12 bank statement.

  • 0 in reply to Roger L

    Sometimes I have to complete the 2 years within a data file that is allowable to post into. If I proceed to the 3rd year then I will not be able to post in the 1st year. Cheques still needs to be made to send for vendors for payment to invoices dated in the 3rd year. I will do a Save As 'Chq Printing Only data file and move that to the 3rd year. Then I or my clients will post the invoices that require payments and then print/post the chqs. I will continue to do this for 3rd year dated transactions that I absolutely have to make.

    Back to the regular data file - once I have finished posting what I need for 1st year and the accountants AJEs have been posted and trial balance reconciled then I can close off the 1st year by moving the date into the 3rd year. Now I will go into the Chq Printing Only data file and print off all the journal entries and repost these into the regular data file. Since I have only posted what I absolutely needed to post I should only have a few entries to repost. The reason I say to make sure to post - not just print chqs - in the Chq Printing Only data is because I have had some client use the Chq Printing Only data file to just print off chqs but not post it. This makes it difficult to know exactly what was paid since there is no record on the Chq Printing Only for me to know what my client did or did not pay.

  • 0 in reply to Smith and Co

    Smitco, what do you do if the customer runs payroll for a few months in the 'chq printing only' company in order to print/post payroll cheques ? do you re-run the payroll in the regular date file after moving the date into the 3rd year - in order to collect the correct YTD for both this year and next ?

  • 0 in reply to Richard S. Ridings

    Richard, I'm not sure what 'post it before you post the Nov12 statement' means ? are you saying that my bank rec starts/ends on Nov 1st, and my end balance = start balance + anything prior to Nov 1,2012, and I select all these old transactions and post. And then I start my regular Nov bank rec on Nov 2 to Nov 30th ?

  • 0 in reply to Roger L

    crbookkeeping, sorry but I am not really sure what month end you are having an issue with.  However, I thought the specific problem is that you need to move to next year (Nov 1/13) but have not completed the fiscal year end for Oct/12.  This means you still have the bank rec for Oct/12 and year end adjusting journal entries to do, but once you move the session date to Nov/13, you will not able to post to Oct/12.

    If that is the case, I don't know why you are having a problem with the Nov/12 bank rec as it will then be part of last year and you can post to the first month of last year to complete the month.

    All I meant by that statement was that when I am doing a backlog of entries like this, I have all twelve bank statements in a pile beside me because I am doing a year's set of books at one time.  If I am trying to reconcile the first month and am concerned about missing outstanding entries that were dated in the first month, I go through all statements looking for cheques dated in that first month, even if they were cashed four months later.  I get them posted.  Once I am happy that everything was posted, I will post the bank rec.  Then move to the next month's bank rec.  If I do miss anything, then I don't worry about it because, as I mentioned before, I can reprint the report to show that there were entries posted after bank rec was posted and those entries show in the bank rec module the next month for clearing anyway.

  • 0 in reply to Richard S. Ridings

    Yes, Oct is YE and I've reconciled the bank up to Oct 2012, but I still have CC reconciliations and accountant AJEs to record.

    Now if I have a Sage vendor payment that has not cleared the bank (Oct 31 2012) and has not been reconciled - when I change the session date to Nov 1, 2013 - that transaction should appear in the bank rec list  and the test I just did confirms this

    But I have a case with another customer where the transaction journal detail shows a payroll cheque from the last month of FY2011, but the cheque is not available/shown on a Sage bank rec in the first month of FY2012, to reconcile when it finally cleared the bank, As a matter of fact, no outstanding cheques prior to FY2012 appear on the bank rec

    so I don't know what to believe, my test (the pmt will be on the rec in FY2014) or my customer experience (the pmt won't be there) ??? Thus my thinking about resetting the bank rec in the first month of FY2012 to enter outstanding sage transactions ?

    interesting development, with my test company, I can see a pre 2012 payment on the bank rec, until I 'reset' the bank rec for the account and reenable reconciliation - then the pre 2012 payment is no where to be found on the bank rec- just like the symptoms I see with my customer's file (so a bank reset once done in the past 16 months since the start of the FY)

    in my test, I saw the warning, about clearing...., but since nothing can be changed with pre fiscal 2012 transactions, they should not have been cleared - just what can be rebuilt, ie. fy2012/13

  • 0 in reply to Richard S. Ridings

    yes, my test shows that the accountant's copy disable anything that is neither JE creation or view/display functions

    I did export a JE and try to import it, but failed with a date format error

    the text file date is 10/30/2013, but the import wants a date format of mm-dd-yy

    but Sage built the export file, couldn't they format the date properly

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  • 0 in reply to Richard S. Ridings

    yes, my test shows that the accountant's copy disable anything that is neither JE creation or view/display functions

    I did export a JE and try to import it, but failed with a date format error

    the text file date is 10/30/2013, but the import wants a date format of mm-dd-yy

    but Sage built the export file, couldn't they format the date properly

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