How to change the G/L fiscal year end (FYE)

Changing the fiscal year end (FYE) in the General Ledger (GL) involves recreating your GL Data Files in Sage BusinessWorks. If you wish to retain details, import the GL transactions from your previous company.

Before you begin

• Back up your company data by selecting File, then Backup
• No users can work in the current or new FYE company until all steps have been completed

For full instructions, download and review these documents

• Changing GL FYE while retaining detail
• Change the fiscal year-end month for subsidiary modules

Watch a short video on how to change your fiscal year end

 

Key information to gather before starting the process

1. New Fiscal Year End (FYE) - What month will the new fiscal year end?
2. Start Month for New FYE Company - First month you'll post transactions in the new company.
3. Journal Detail Transfer - Do you need journal entry details from the original company copied into the new one?
4. Beginning Balances - Get starting balances for the new company from your accountant.

Important Notes

• Follow each step exactly to maintain data accuracy
• For clarity
  • The original company is called CURRENTFYE
  • The new company is called NEWFYE