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How to Add a New Fiscal Year to Sage 500 ERP

Want to learn more about the future of Sage 500 and what life looks like after migration?
Check out our blog series:

The Road Ahead for Sage 500
Life After Sage 500—What's Next?
Life After Sage 500—Why Now?
Life After Sage 500—We're Here to Help

Log into Sage 500 ERP and access the General LedgerMaintenanceGL Setup Set Up Fiscal Calendar

1-500Menu

Click the Add Year button

2-SetupFiscalCalendar

Key in the next Fiscal Year

3-AddFiscalYear

Answer Yes to the prompt to calculate beginning balances for the new Fiscal Year

4-BegBalQuestion

Verify the period dates are correct and make any necessary changes. Your new fiscal year is now created

5-NewFiscalYear

Click the green finish button to save and exit.

Tags: Sage 500, How-To
Russ Griffith

Written by Russ Griffith

Working as the Director for our Sage 500 Practice, Russ assists companies who need to improve their business processes and evaluate how to make their business systems work for them. By working with the key resources at each company he is able to understand the needs and challenges that are present in each unique environment.