How to Access Prior Years Financial Data in Sage Timberline

Q1 ‘Sage  Break’ 300 CRE Users Group Meeting on January 10, 2013

We had a great crowd at our Q1 Sage Break meeting! We all learned how to get an egg in a glass with a plate in between them for one thing. Hint: the right tool!

Want to join us for April’s breakfast meeting? Click here for details!

The session theme was on Year End issues, and CPA and Sage Certified Consultant,  Michelle Jardine, was there to moderate and advise the group. She started with whiteboarding issues and solutions. A couple of the issues raised appear below. But the question is – what would YOU suggest or share with the group?

Q: How do I access prior years’ (2 years back or more) financial statements and transactions after closing the current year? Or, in other words, I’m losing access to the previous prior year’s detail because I closed the year. How can I still access it after the close?

A: The solution, most users agreed, is properly archiving your data.

More suggestions made by the group:

  1. Use Timberline Tools to copy prior year’s data to a new archive folder
  2. Always roll back exactly 12 months when you are in the archive folder
  3. Go to Company Settings>General
  4. Use a naming convention that identifies the company folder by year and sorts it to the end like: ZZ(company name)Archive2009

Q: I’m closing late so I can’t generate financial statements because I’m waiting for adjusting journal entries (AJE).

A: The solution suggested is to close the year on time, enter the adjusting journal entries (AJE) as needed and reclose.

Still have questions about year end? Participate in the ongoing discussion! Join the LinkedIn Group: Sage 300 CRE Users Group – Ledgerwood Clients