End of Year Assets

Management – Management – End of Year Assets

The End of Year Assets function will finalise the running period for your assets year end. This will update all assets periods.

The SapphireOne End of Year Assets function may be run at any time after your actual Financial end of year allowing you to continue to work until finalisations are completed.

The End of Year BACKUP MUST be made at this point for both of the functions on this page as this procedure will make MAJOR changes to your SapphireOne data.  File this BACKUP securely.

  • This End of Year for assets is virtually identical to financials as follows.
    • Select each checkbox in turn.
    • Check the Current Date.
    • Enter the last period for the financial year carefully. It should normally be period 12.
    • The will then become active.

You MUST run this function on a Company by Company basis. This will require the user to log on to each company and complete for that particular company.

The results of running End of Year on Periods in Assets only.

When the end of year is completed for any company in SapphireOne the number of periods are increased.

  • For example, if you selected 12 as the last period and were currently in Period 16, at the conclusion of the End of Year procedure, Period 16 would automatically become Period 4 of the new financial year. 16 less 12 = 4. If you were in Period 18 the calculation would be 18 less 12 = 6.
    • All previous year period numbers will have 100 added to them. If you require a transaction from last year you will have to add 100 to the period number, if two years ago add 200, etc.
    • In other words, the numbers Increment all the way back through previous years. Every financial year closed has 100 added to it each time you close the current financial year.
    • For example, if you were searching for transactions from Period 8 closed 2 financial years ago you would search for Period 208. 

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