The Year-End wizard comprises a series of windows with instructions and options. The first window, the Welcome to the Sage 50 Year-End Wizard window, tells you the date range of your two open fiscal and payroll tax years. Once you've finished reading the text in this window, you can click Next to go to the next window in the series.
Close Options: The Close Options window lets you choose whether to close the first open fiscal year, the first open payroll tax year, or both. Tell me more about this.
Print Fiscal Year-End Reports: This window displays a list of the year-end reports that you might want to print before completing the year-end process. For each listed report there is a check box. You can select the check box next to each report that you want to print. Tell me more about this.
Note: You will see this window only if you are closing a fiscal year or years.
Internal Accounting Review: This window gives you the opportunity to run an Internal Accounting Review on your company before you close the year. If you would like to run the review now, you can click one button to do so. (Sage 50 Premium Accounting and higher)Tell me more about this.
Back Up Company Data: It's very important that before you close the year, you make a backup of company data and customized forms; otherwise, this information will be lost. The Back Up Company Data window creates a backup for you. Tell me more about this.
Archive Company Data: When you archive your company data, you are saving your data and financial statements so you can have access to that information when you need to refer to it for future use, such as providing your financial information for a tax audit. Tell me more about this.
New Open Fiscal Years: Since Sage 50 automatically adjusts the start and end dates of fiscal year accounting periods, it is usually not necessary for you to do this for your next open fiscal year. However, if you do want to change accounting period dates for any reason, The New Open Fiscal Years window gives you the opportunity. Tell me more about this.
Note: You will see this window only if you are closing a fiscal year or years.
Confirm Close: This window tells you the starting and ending dates of the open fiscal and payroll tax years you are about to close. It also tells you what your two open fiscal and payroll tax years will be after closing. Confirm that the information is right; then click Next to proceed. Tell me more about this.
Begin Close-Year Process: At this point, you are ready to begin the close process. To do so, click Begin Close. Tell me more about this.
Congratulations! The open fiscal and payroll tax years you selected have been successfully closed. Tell me more about this.