Sage Line 50 tutorial is designed for book-keeping software, in this blog we will teach you how to use this software. In sage line 50 blog you will learn about how to install and operate Sage Line 50 and how to install on network.

Previous Year Adjustments

If you already done the year end routine and you want to post some journals for the previous year adjustments try to use this method.

As a general rule you will put through Nominal > Journals the adjustments on the Balance Sheet codes & date them the last day of the previous accounting year.

For Example if you have been given Journal entries by your accountant after finishing the year financial accounts, Corp Tax : Credit the Corp Tax Code in the Balance Sheet & DR the Retained Profit A/c.

Make sure Don’t make any adjustments directly to the Sales or Purchase Ledger Control A/cs. If you have, for example, a debtor to write off – set up an Account near or next to the Debtors Control A/c called Credit Note Provision – or similar- Cr C/Note Provision DR Retained Profit ; & then in new financial year when you raise a C/N to remove the debtor you NL Code this to the A/c you have just set up – so it does not come off current years Turnover.

As you have only any other journals – Next year end get back-up to Accountant as soon as possible & get Accounts finalised as soon as possible & don’t year end until you have done this – you can continue inputting data post end of year – you simply get irritating message about it being a different Accounting year.


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