Period end is a serious time for Accounts departments. They need to make sure that their data is accurate in order to produce management accounts.

 

But often users do not know or understand what they need to do in Sage 200. 

 

The Sage 200 period control is all about controlling what transactions can post to the Nominal Ledger for a period. There is no effect on the Sales or Purchase ledger trading periods which are completely date based. The VAT return also uses its own Period control.

 

Though the period control is split by Sales, Purchase, Cashbook and Nominal; these descriptions relate to the type of transaction; and not individual Ledgers.

 

It is possible to allow multiple periods to be open at a time, which can help negate the need to close the different elements at different times. So though you may not be ready to close the current period you can open the next period anyway and report on both periods. The date of the transactions will dictate the period effected.

 

As Sage 200 is date driven a transaction will post into the period it is dated. If the transaction is future dated it will post into deferred until the period is opened. If it is dated for a closed period it will post in to the nearest Open period.

 

N.B. Date validation can help to prevent and/or control users entering closed or future period dates.

 

So….

 

How do you prepare for a period end?

 

What tasks need to be done?

 

What documents should be produced?

 

How do you perform a period end?

 

The attached document is a good guide of what a user needs to do and consider.

Talking Sage 200 – Period End Routines

 

Important…..

 

  • Remember to take a backup.
  • Process and update all transactions for the period.
    • Including foreign currency revaluation and processing SO/DD
  • Periods can be re-opened if required.
  • Reports can be run retrospectively.