![]() ![]() Also prior year adjustment will not be accounted for on your Profit and LossĪs you will have entered these after your Year End in Sage 50 was run. ‘Previous Year Adjustment’ value showing on your Balance Sheet. Any late adjustments should not be entered directly to Profit and Loss nominal code as it will result in a separate However situations can arise where you may need to make In doing so it allows you to account for a new financial year on your Profit and Loss. ![]() ![]() When you run your Year End in Sage 50, it will post journals to clear down your Profit and Loss totals to the ‘Retained Earnings’ balance sheet account. Sage 50 – How to post adjustments into a previous financial year ![]()
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