Updating ledgers in Sage option is a step-by-step procedure with the invoice and credit note transaction information. For the sales ledger, customer accounts and transaction histories are updated with the total value of the invoices or credit notes in the batch. They increase or decrease each account balance and turnover to date fields accordingly.For nominal ledgers, the debtors' control account and the appropriate nominal sales accounts are updated with the gross value of the invoices or credit notes.

Batch Invoice

To post a batch of invoice records, choose the invoices required by clicking on them to get highlighted. You can use the Swap and Clear buttons. If no records are selected, all records not posted to the ledgers in Sage will be included in the batch process. Records posted are flagged in the list of records within the Invoicing window.

Note: You cannot update an invoice or credit note more than once to the ledgers.

When updating ledgers in Sage, the software creates for you a postings report that shows the transactions posted for the invoices/credit notes selected. It will advise you of any items on invoices/credit notes which have not been posted and the reasons why.

Updating ledgers

1. Select the invoices or credit notes you wish to update the ledgers with from the Invoicing window list box.
2. Choose the Update Ledgers button.
3. Select the type of output you require for your report from the option buttons available.
4. Choose the Ok button to update your ledgers and print your Update Ledgers Report.

The accounting done

The transactions you post through this routine cause the following actions to be taken by the system:

Sales Invoices

• A debit posting is made to the Debtors Control (Gross)
• Credit posting is made to the Nominal Accounts specified (Net)
• A credit posting is made to the VAT Sales Control (VAT amount)
• The `In Stock' quantity of each product on the invoice is reduced (Product Invoices not generated via the Sales Order Processing option only)

Sales Credit Notes

• A credit posting is made to the Debtors Control (Gross amount)
• A debit posting is made to the Nominal Accounts specified (Net amount)
• A Debit posting is made to the VAT Sales Control (VAT amount)
• The `In Stock' quantity of each product on the credit note is increased (Product Credit Notes only).

Payments Against Invoices

• A debit posting is made to the selected Bank Account (Receipt amount)
• A credit posting is made to the Debtors Control (Receipt amount)

Invoicing Reports

To run an invoice report

1. Select from the Invoicing window list box the invoices you wish to report on.
2. Choose the Reports button from the Invoicing window toolbar.
3. Select the report you require from the Invoicing Reports list box.
4. Indicate the report output you require by selecting one of the Option buttons provided: Printer, Preview or File.
5. Choose the Run button to generate the report.

The Report Generator Window

The Report Generator window lists each of the Sterling for Windows Reports that you have created using the Report Generator option. You can add thousands of reports to this list, which will be sorted in the order that you created them.

Building a New Report

Building up a new report can be said to comprise four main stages. These stages are listed below:

1. Getting Started with the Layout Wizard.

This lets you: select the type of report, give the report a title, select the variables to include and assign a report sort order.

2. Use the Layout Editor to present the report just how you want it to look.

Assign a printer to the report, check paper size, margins etc. change the fonts used, add graphics, organize the position of the variables and so on. (See The Layout Editor- For full details of these operations).

3. Use the Layout Editor's "Report Variable List" dialog box.

The Report Variable list that is activated in the layout editor for Report Generator reports can be used to specify the data that is included in the report. Sorting can be adjusted, breaks and sub-totals included, and new calculated variables created. It is also here that you can add selection criteria to variables.

4. Saving the new report so it can be added to the list shown in the Report Generator window.

Take a printed copy of your layout file and Report Variable List for reference and save your layout file so it will appear in your report generator list. Report Generator layout files are stored by default in a directory called: C:\SFW3\REPORTS and are given the filename extension of *.SRP.

Year-end Procedure

This option takes care of all financial year end accounting. The balances for the current financial year of your profit and loss accounts are transferred to the Retained Earnings account, ready to accept transactions for the new financial year. Balances of your balance sheet accounts are carried forward into the new financial year to give an accurate picture of your ongoing financial position.  Future dated transactions are transferred to applicable monthly fields on nominal account records.The nominal and product budget figures can be set automatically for the new financial year, with a percentage increase if required. Actual values are transferred to prior year so you can produce comparison reports in the new financial year.

Note: Post transactions for the new financial year before closing the current financial year. Any transactions with a date that is in a future year is accumulated in the Future total on the nominal account record until the year end is run. After completing the year end the balance in the future field on the nominal account record is transferred to the relevant month.

To prepare for your year end

1. Run your month end procedure (see section Month End Procedure).
2. Make sure your system date is set to your year-end date.

You can now run your year end.

To run your year end

1. Take two backup copies of your data.
2. Make sure your system date is the same as your year-end date.
3. Open the Period End menu from the Sterling for Windows menu bar and choose the Year End option.

The Year End dialog box appears.

When you run the year end option, Sage resets to zero the balances of all profit and loss nominal accounts for the new financial year.

4. If you update budget figures for each nominal account and product record with the actual values from the year just ending, select the Transfer Actuals to Budgets check box.

If you select this check box and want to increase the budget values for the current year, enter the percentage increase you require in the Percentage Increase box. Note: any percentage you enter here increases the budgets for both your nominal accounts and product records. Leave this as zero if you don't want any increase in your budget figures.

5. In the Year End Journals Date box, enter the date you want on your year-end journals. Financial year ending date shows here by default and be changed accordingly.
6. A Year End updated Audit Trail report is produced for the year end postings. Select from the Output area the type of output you require: Printer, Preview or File.
7. Choose the OK button to carry out the year end procedure or cancel to abort.
8. To continue with your year-end, choose the Yes button, or to cancel choose No.

When year-end postings have been made, Sterling desktop appears. You will be ready to prepare for your new financial year.  (See the section to prepare for your new financial year).

To prepare for your new financial year

1. Remove any unwanted or redundant customer, supplier, bank, nominal and product records.
2. Compress your data files
3. Run the Check option in Disk Doctor.
4. Take a backup of your data and label it `After Year End'.
5. Check the Financial Year start date in the Defaults menu, to ensure it is correct.

Read more about Sage accounting : Bill of Materials in SAGEHow to create a New Company in SAGEHow to work with nominal ledgers in Sage