We are regularly creating new companies and sites in Sage. For every new site, this process also requires the creation of Fiscal Years and Periods all the way back to Year 1, in our case FY2011/2012. Not only that but we then have to Open each one and Close each one, so currently we have to create, then open and close nine Fiscal Years, together with 108 Periods which will never see any activity. This is a very pedantic process and wastes a lot of time.
Accepting that we need to maintain the respectivity of the information, it would make sense for Sage to allow the input of an "Interim Starting FY" when we create the new entity, and then for Sage to automatically create the requisite records, set the flags and create the opening and closing journals for the intervening periods.

by: Stacey O. | over a year ago | Financials