Scenario: Perform year end processing for both accounting and inventory & billing data.
It is compulsory as Sage UBS only allow users to input transaction up to 18 periods only (For example, if your corporation financial year begin at 1 January 2020, then you.can work for transactions up to 30 June 2021 only).
Below are the steps to perform year end processing for both your accounting & inventory data.
Before performing year end processing:
1. Make sure you have performed data backup.
2. Make sure all the reports have been printed and exported.
3. Make sure you have completed audit adjustment for your transactions.
1. Go to Periodic --> Year End Processing
2. Before year end processing can be done, you will be requested to input the period you want to close, followed by inputting the UBS password. Input all the info and click on OK.
3. You will be asked before year end processing is initiated. Click on Yes to proceed. Otherwise, click on No if you wish to cancel the existing operation.
4. Year end processing for your data is complete.
1. Both accounting & inventory data are set in separate basis. You will need to do year end processing twice (one time from accounting side and one time from inventory & billing side).
2. After year end processing of the data,
(i) All the previous year transactions in your existing data will be cleared.
(ii) Previous year data will be added into list of past year data for review purposes. To review back the past year data record, you will need to select table icon (gear icon besides it).