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Preparing a Monthly Sage Accounts Checklist

Part of the Sage 50 Accounts For Dummies Cheat Sheet

Make use of this basic checklist to ensure that you follow a routine and cover all the bases when preparing your monthly accounts on Sage:

  • Enter your sales and purchase invoices.

  • Enter all receipts and payments from cheque stubs and paying-in slips.

  • Enter directs debits, Bankers’ Automated Clearing Services (BACS), transfers and so on from bank statements.

  • Reconcile bank accounts, including credit cards.

  • Enter journals (or run wizards) for accruals, prepayments, depreciation and so on.

  • Run VAT return (if due).

  • Enter your PAYE journals and VAT journals and run the wizards if required.

  • Run Aged Debtors and Aged Creditors reports for the period.

  • Run Profit and Loss and Balance Sheet for the period.

  • Run month-end (Tools >Period-End >Month-End).

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