For people in the accounting field, we often get clients who are years behind but are still continuing operations. Once we advance into a new year, we can no longer make changes to previous years even though we have not completed the file. Sage suggests making a back up and working in the old file until it's caught up and then re-entering all of the new year's data into the file. This is unreasonable when there are thousands of transactions. There should be an option to be able to keep multiple years open and accessible. Even if there's an additonal fee to have that add - on to my accountant edition software, I would pay it! This is a much needed change. Quickbooks offers it and as much as I hate that software, they are far more advanced with these types of services.
Muriel Maguire
I agree with this. Someone asked for a T4 from 2023 and I couldn't print it because we are in 2025
Accountants generally make the prior year changes through adjusting journal entries, not posting directly into the books. They can account for the prior year entries when they move on to the next year. Bookkeepers post into the books and they should not be so far behind. Two years should be more than sufficient for this type of activity.
I have had a situation where I was in the hospital for most of 2022. This put me behind a full year on one client in particular. We are now doing 2023 year ends and have had to advance to 2025 on some files. This means we cannot post any entries into 2023