A group of related data files. Each Sage 50 or Peachtree Accounting Company is considered a DataSet.
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There is not an option inside Sage 50 to perform this task. Due to this missing option within Sage 50, you would have to completely rebuild your company using the export/import function.
This process can take weeks for a normal user to execute. If you have ever tried to export and import transactions, you know how frustrating this process is. Most of the time you just give up and start manually reentering the transactions. This adds months to your project timeline. There is just no easy way to accomplish this task.
Our service will solve all these problems! We can change your fiscal periods, retain all transaction details, and correctly adjust all your General Ledger balances.
We can guarantee that there will be no transaction or details lost. Everything will be exactly the same, except, your new fiscal period ranges will be changed!
The only issue you may have to address is the occurrence of repeating transactions within your dataset. Because you are changing the time frame in which repeating transactions reside, they may no longer be valid. How we fix this is by flattening them and stopping them from repeating. Once you receive the dataset back, you would need to edit the last transaction in the set and reschedule it.
Laying out your new period range can be confusing. First, you do not want to change the date ranges for your history data. Try to leave past periods alone. Secondly, you need to have all date ranges covered in a continuous range. There can be no blanks or missing time frames.
Sage 50 has two years of editable periods. It is best to start the new fiscal period range with the second year. To accomplish this, there may need to be a short period or a super period. This short or super period is used to make up the time frame to accommodate the new period range.
For example, your fiscal year currently runs February – January; you need them changed to a standard calendar year January – December. Remember you have two years open in Sage 50 so your layout would resemble the following
|Period||Existing Start Date||Existing End Date||New Start Date||New End Date|
Notice there are two short periods; period 11 and period 12. This is used to adjust the time frame so period 13 (which is the first period of the second year) can start with January. This process can also go in reverse if we were adjusting your periods the other way. Ultimately, there would be a super period in period 12 that would contain both December and January in one month, that period (period 13) would start with February.
It is difficult to think about how your new periods might reside in comparison with your old pay periods. This Excel Spreadsheet can be used to work out your new period ranges. Just remember, you have two open years. Period 13 may be your first fiscal period for the second year. It may also be possible that you require 13 periods instead of 12. Period 14 would then be your first period for the second year. Please remember to leave the past in the past. Do not go back and change periods for closed months. Focus on when the change takes effect and work on that point forward.
If you have repeating transactions, you will need to locate the last transaction for that set and edit the repeating time frame. This does not need to be done immediately, but you should adjust them prior to applying any transactions to that customer or vendor.
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