Preparation Steps
Before initiating any period-end closing procedures, several crucial preparatory steps must be completed to ensure a smooth process.
System Backup Creating a complete backup of your Sage 100 database is absolutely essential before beginning any closing procedures. This backup serves as a safety net in case any issues arise during the closing process. The backup should be tested to verify its integrity and accessibility.
User Access Control All users must be logged out of the system during the closing process to prevent data conflicts. Use the Master Console utility to monitor and manage user access:
- Access Master Console through File > Master Console
- Review all active users and their current activities
- Send broadcast messages requesting users to log out
- Use the shutdown all button if necessary to terminate user sessions
Module Closing Sequence
The order in which you close modules is crucial as data from one module often writes to another. Following the correct sequence prevents data corruption and ensures accuracy.
Recommended Closing Order:
- Bill of Materials
- Work Order
- Bar Code
- Purchase Order
- Sales Order
- Inventory Management
- Material Requirements Planning
- Accounts Receivable
- Accounts Payable
- Payroll
- General Ledger
Period-End Processing Steps
Accounts Payable Processing
- Update all data entry tasks:
- A/P Invoice Data Entry
- Manual Check and Payment Entry
- Electronic Payments
- Purchase Order Receipt Entries
General Ledger Processing
- Verify all subsidiary modules are closed
- Print and review all necessary reports
- Reconcile all accounts
- Perform final period-end closing procedures
Reopening a Closed Period
Sometimes it becomes necessary to reopen a previously closed period to make adjustments. Here's how to accomplish this:
Steps to Reopen a Period:
- Navigate to General Ledger Setup menu > GL Options
- Select the Main tab
- Change the Current Fiscal Year field to the desired past year
- Update the Current Period field to the specific period needed
- Click Accept to save changes
Making Entries in Previous Periods
After reopening a period, follow these steps to post entries:
- Create the journal entry with the appropriate date
- Print the General Journal
- Update the entry
- Return to current period:
- Access General Ledger Options
- Reset Current Fiscal Year and Period
- Click Accept
Period-End Checklists
Sage 100 provides built-in checklists for period-end processing. To access these valuable resources:
Accessing Checklists:
- Click the Help Tab
- Select Help Topics
- Search for "checklist"
- Review module-specific checklists for:
- General Ledger
- Accounts Payable
- Accounts Receivable
- Inventory Management
- Purchase Order
- Sales Order
Best Practices
Timing Considerations
- Schedule closing procedures during off-hours
- Allow sufficient time for completion
- Coordinate with all departments involved
- Plan for potential complications
Documentation Requirements
- Print all necessary reports before closing
- Maintain copies of reconciliation documents
- Document any unusual transactions or adjustments
- Keep detailed records of closing procedures
Common Issues and Solutions
Out-of-Balance Conditions If the General Ledger becomes out of balance:
- Run detailed trial balance reports
- Compare subsidiary ledger totals
- Review recent journal entries
- Make necessary correcting entries
System Performance To optimize system performance during closing:
- Clear temporary files
- Verify adequate disk space
- Ensure all users are logged out
- Monitor system resources during processing
Security Considerations
Access Controls
- Set appropriate user permissions for closing procedures
- Maintain audit trails of all closing activities
- Restrict access to sensitive financial data
- Document any security override requirements
Post-Closing Procedures
Verification Steps
- Review all closing reports
- Verify beginning balances for the new period
- Confirm all subsidiary ledgers are in balance
- Archive closing documentation
Maintenance Tasks
Regular System Maintenance
- Purge old data according to retention policies
- Review and update system settings
- Verify integration points between modules
- Test backup and recovery procedures
Year-End Considerations
Special considerations for year-end closing include:
Additional Requirements
- Download and install required tax table updates
- Verify compliance with regulatory requirements
- Review fiscal year settings
- Update vendor and customer information
Troubleshooting
If issues arise during the closing process:
Common Solutions
- Verify all prerequisites are met
- Check system logs for errors
- Review closing sequence
- Consult with Sage support if needed
Conclusion
Proper period closing in Sage 100 requires attention to detail, careful planning, and strict adherence to procedures. By following these guidelines and maintaining proper documentation, organizations can ensure accurate financial records and smooth transitions between periods. Regular communication with team members and careful coordination of closing activities will help prevent errors and maintain data integrity throughout the closing process.
Remember that while this guide provides comprehensive information, specific requirements may vary based on your organization's needs and Sage 100 configuration. Always consult with your Sage 100 partner or support team for guidance specific to your implementation.
Citations: [1] https://www.youtube.com/watch?v=iqTZHLVwauI [2] https://www.jcscomputer.com/sage-100-month-end-close-checklist [3] https://www.youtube.com/watch?v=Lu3ZJ80dix0 [4] https://www.caserv.com/2019/03/14/sage-100-how-to-open-a-previous-period-and-post-in-general-ledger/ [5] https://www.top-sage-resellers.com/blog/sage-100-year-end-closing-procedures [6] https://www.ardentconsultingllc.com/resources/how-to-perform-period-end-processing-in-sage-100-accounts-payable [7] https://communityhub.sage.com/us/sage100/f/year-end-forum/211871/period-end-year-end-holding-before-closing
