The Year-End wizard walks you through the process of closing out your first open fiscal year, payroll tax year, or both. At every point in the process, the wizard makes your options clear and tells you the consequences of every action you might take.
Before starting the Year-End Wizard
Before you launch the wizard, there are a number of tasks you should perform.
- Print any unprinted items such as invoices and payroll checks
- Clear the Waiting on Bill from Vendor check box in the Purchases/Receive Inventory window for any outstanding vendor purchases. If you start the wizard before performing this task, the wizard will not be able to proceed. You have to exit the wizard and clear the check box before you can complete year-end close.
You may also want to purge inactive records before you start the wizard, though this can be done at any time, including after year-end close. Purging records is accomplished with the Sage 50 Purge wizard. Tell me more about the purge wizard.
Also, while the wizard requires that you back up your company data during the close process, you can do so before launching the wizard if you prefer. In either case, back up of company data is highly recommended. Tell me more about making a backup.
Note: Since the close process may take quite a while to complete, we recommend that you start the process at the end of your business day, making sure you leave the computer running. Also, make sure that all other applications are closed before you begin.
Starting the Year-End Wizard
- From the Tasks menu, select System and then Year-End Wizard.
- Read the introductory information, and note your company's two open fiscal and payroll tax years.
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To proceed with year-end close process, click Next.
The Welcome to the Sage 50 Year-End Wizard window appears.
Note: Once you select the year or years you want to close, 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 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.