When you create a new company or use one of the company templates provided, your Sage Simply Accounting company records need to be brought up to date with your company's historical financial information. Historical information includes account balances, vendor and customer invoice and payment information, employee year-to-date earnings, deductions, and expenses, and the quantity and value of inventory on hand.

A History symbol beside an icon indicates that you can enter historical transactions in the record.

Until you finish entering history, you can continue to change the account balances or other information you entered.

Records that have a tab or tabs on which you can add historical information

Record Tab name Historical Information
Account Account Opening balances
Employee Taxes Total tax paid to date (in the Historical Amount column)
  Income Total for each income to date (in Historical Amount column)
  Deductions Total for each deduction to date (in Historical Amount column)
  Other Expenses Expenses paid to date (in Historical Amount column)
  Entitlements Days accrued to date (in Historical Days column)
Vendor Historical Transactions Invoices to date
Customer Historical Transactions Invoices to date
Inventory History

Opening Quantity and Opening Value (total)

Note: If you are using First In, First Out inventory costing, you cannot change an item's Opening Quantity or Value after using the item in a transaction. (Premium)

After you have created your records, recorded their historical information, and set up the linked accounts for the modules you plan to use, select Finish Entering History from the History menu. You must select the Finish Entering History command in order to advance your company into a new fiscal year.

What do you want to do?