Preparing Sage Active for your 2025 fiscal year

Before recording any journal entries in your fiscal year for 2025, you need to make sure that Sage Active is correctly configured.

Updating third party ledger accounts

If you previously used ledger account codes beginning with 400 and 410 for suppliers and customers respectively, you need to update their ledger accounts:

For existing third parties

Update the Information section of each third-party record:

• In a customer record, select a Ledger account starting with 411.
• In a supplier record, select a Ledger account starting with 401.

For future third party creation

To ensure that third parties created in the future use the correct ledger accounts, update the default accounts in your Accounting configuration:

• For customer accounts, select a Ledger account starting with 411.
• For supplier accounts, select a Ledger account starting with 401.

This will automatically apply to any new third parties added.

Updating your postal checking account information

As part of the changes implemented for 2025, you need to update the ledger account associated with your postal checking account.

Updating the financial journal for your postal checking account

If you are using a default ledger account starting with 514 in the financial journal for your postal checking account, you need to change this to a ledger account starting with 512. If you do not already have a ledger account starting with 512 created, create it and set this as the default ledger account for the journal. 

Transferring the balance to your new ledger account

Transfer the balance from your ledger account starting with 514 to the new ledger account starting with 512 to preserve your postal checking account balance in your accounting records. To do this, record a journal entry transferring the balance from the ledger account starting with 514 to the ledger account starting with 512.

Linking the new ledger account to your postal checking account

Update the default ledger account in the bank account set up for your postal checking account to the ledger account starting with 512.

Generating the balance sheet and profit and loss report

You can now generate the balance sheet and profit and loss Statement reports with the new layout.