Michael Paul Accountants – Sage Month End Procedure
In this article Paul from Michael Paul Accountants Northamptonshire explains the month end option available to Sage users.
The Sage month end procedure is useful as it automatically makes various month end journal postings which would otherwise need to be done manually.
The procedure enables the following postings to be made.
- Clear Turnover Figures
- Post Prepayments
- Post Accruals
- Post Depreciation
The clear turnover option sets the month to date turnover figures for each customer and supplier to zero.
The concept of prepayments, accruals and depreciation has been described in previous articles. In order for these postings to be made when running the month end procedure they need be set up within Sage so the program knows which parameters to use. I will explain how to do this in a series of future articles.
To run the month end procedure
Before running the month end procedure take a back-up of your data. Next proceed through the following steps.
- From the Settings menu choose Change Program Date and set the date to the month end date.
- From the Tools menu choose Period End and then Month End.
- Select which of the four month end postings you wish to make and click OK.
- A confirmation message will then appear, click Yes or to cancel click No
At Michael Paul Accountants Kettering, Corby, Northampton and Market Harborough are conveniently located near to our premises in Lamport although we have clients from all over the UK. We are a firm of Chartered Certified Accountants ensuring you receive a professional and competent service at all times. We specialise in small businesses, medium sized businesses, sole traders, partnerships and individuals who have to file a tax return.
If you need any advice regarding the Sage month end procedure or any other Sage, accounting or taxation matters please don’t hesitate to contact us.