In this window the wizard asks you which open years you want to close. Depending on the available options, you can close either the displayed fiscal year, the displayed payroll tax year, or both the fiscal and the payroll tax years.
Available Options
The window includes three option buttons:
- Fiscal and Payroll Tax Years
- Fiscal Year: The wizard will display the appropriate beginning and closing dates for the year.
- Payroll Tax Year: The wizard will display the appropriate beginning and closing dates for the year.
Depending on your current accounting period and how your fiscal and payroll tax years are structured, not all of these options may be available. Sage 50 will always allow you to close only the appropriate year or years based on your accounting structure, so do not be concerned if all close options are not available to you at one time.
Note: If you have been working in Sage 50 for a number of years and have never closed a payroll tax year, the wizard will recommend that you close your fiscal and payroll tax years together. This will close more than one payroll tax year and bring your fiscal and payroll tax years in sync.
Select Close Options
To select the desired close options, do the following:
- Start the Sage 50 Year-End wizard, and click the option button corresponding to the year or years you want to close.
- When finished, click Next to continue the year-end close process.
- If you are closing an open fiscal year or years, Sage 50 displays the Print Fiscal Year-End Reports window.
- If you are closing an open payroll tax year or years, Sage 50 displays the Unprinted Items window.
Note: When you select Next, the wizard will determine if you have any purchases still waiting on bills from vendors. If so, the Cannot Proceed window will appear, telling you that you must go to the Purchases window and clear the Waiting on Bill from Vendor check box for each of the purchases before you can continue with year-end close.
If you don't have any outstanding purchases but you do have items such as invoices and payroll checks that haven't been printed, you will see the Unprinted Items window. It will list all items that still need to be printed. At this point you can select Cancel to close the wizard and then print out these items, or you can click Next to continue without printing the items.