Sage 50 month end: a practical checklist
The order to do things in so your month end balances first time, with the checks that catch the usual errors.
Month end in Sage 50 is mostly about doing tasks in the right order. Post everything first, reconcile second, report third, and only then close the period.
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Take a backup before you touch anything
File, Backup, and include the data files. Name it with the date and "pre month end". Several of the later steps cannot be undone, so this is not optional.
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Post everything for the period
Enter all remaining purchase invoices, sales invoices, credit notes, bank payments and receipts dated up to the month end date. Check for anything sitting unposted in batches.
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Reconcile the bank
Bank accounts, Reconcile. Match every line to the statement and confirm the reconciled balance equals the closing statement balance. Do not force it with an adjustment unless you know exactly what the difference is.
Tip: A difference equal to a round transaction amount is usually a duplicate posting; a difference of double a small amount is usually a debit posted as a credit.
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Check the aged debtors and creditors
Run Aged Debtors and Aged Creditors reports at the month end date and compare their totals to the debtors and creditors control account balances on the trial balance. They must agree.
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Review the VAT position
If your VAT quarter ends now, run the VAT Return, check the detailed report for anything in the wrong box, then reconcile and submit under Making Tax Digital.
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Run and save the reports
Print or save to PDF: Trial Balance, Profit and Loss, Balance Sheet and the aged reports. File them in your month end folder so you have a fixed record before anything else is posted.
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Run the Month End routine
Tools, Period End, Month End. Tick the options you actually want — depreciation, recurring entries, clearing stock transactions — and set the correct date. Then set the Change Program Date back to today afterwards.
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Lock the period
Settings, Lock Date, and set it to the month end date. This stops anyone posting a backdated entry into a period you have already reported on.
Common questions
My trial balance does not agree with the aged debtors.
Usually someone has posted a journal directly to the debtors control account, or a payment has been posted on account and not allocated. Run the Verify tool under File, Maintenance to check for data corruption too.
Can I undo a month end?
No. You restore the backup you took at step one — which is why step one exists.