How to set up Short Years

Steps to set up short years or change the fiscal year end.

 

 NOTE: The following applies only to Sage Fixed Assets Lite Depreciation, Depreciation, and Depreciation Network. For the Premier edition, see How to change the fiscal year end and/or accounting cycle in Premier

 CAUTION: Changing short years will change the calculations under some Depreciation Methods. Back up the company before proceeding. See How to back up a company

In Sage Fixed Assets:

1. Go to: File, Edit Company.
2. Click Short Years tab.
3. Key the month and year of the new fiscal year end in the next available short year.
4. Repeat for any additional short years in the next available year (if applicable).

Note: If you calculated depreciation into or beyond the new short year, run depreciation to the prior fiscal year end first. Then run it again to the current period to apply the updated calculation. See How to run Depreciation.

• Alternatively, you can run again for the current year using the Force recalculation option