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Open Accounts Payable, Reports, Form 1099 eFiling and Reporting
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YEAR END TIPS AND RESOURCES
3 THINGS TO NOTE BEFORE CLOSING THE BOOKS
1. Backup Your Data:
Executing a complete backup of your database is one of the most important things you can do before starting any closing process. You should also test the backup to ensure it was performed successfully and the data is readable.
If you make a mistake, the only way to “reverse” year end processing is to restore data from a backup.
2. Follow the Module Closing Order:
A year end process in one module often writes data to another related module. Therefore closing modules in the proper sequence is extremely important in order to avoid unexpected results or damage to your data.
3. Get Help When Needed:
Be sure to Contact Us if you have any questions before, during, or after you start year end processing. Especially if you have customizations or 3rd party add‐on products that are integrated with Sage 100. We can help you plan a closing process for your specific system/installation.
TIPS: Creating a Copy Company For Archive/Backup
To make a copy company, go to: Library Master > Main Menu > Company Maintenance
1. Create a new company code and company name (description) that’s easy to identify and distinguish from the live/active company that you’re copying.
2. Click the Copy button and enter the Company Code of your current year live (or “Source”) company.
3. Select the modules you want to copy to your archive company. To create a complete archive/backup, you’ll want to copy all modules. Click Proceed. Once the process is finished, click Accept.
Note: For good measure, you might run a trial balance in each module and do a quick spot check to make sure all the data that came over is balanced and accurate.
MODULE CLOSING ORDER
Start from the bottom and work your way up to he top of the menu, ending with the General ledger module:
1. Bill of Materials*
2. Work Order Processing*
3. Bar Code
4. Purchase Order Processing
5. Sales Order Processing
6. Inventory Management
7. Material Requirements Planning (MRP)
9. Electronic Reporting/Magnetic Data
10. Payroll (Quarter‐end processing)
11. Accounts Receivable
12. Accounts Payable
13. Job Cost
14. Bank Reconciliation
15. General Ledger
Note: While there is no formal closing procedure in the Bill of Materials, Work order, MRP, and Electronic Reporting modules. All transactions in those modules should be posted before starting any closing procedures in the modules that follow them (i.e. Post transactions in Work Order before closing Purchase Order, Sales Order, and Inventory). Remember, this is just a general guideline. If you own modules that aren’t listed above or you run any third party add-on products, please contact us to discuss specific closing procedures for your company.
YEAR END TIPS
4 Tips for a Successful Year End
Here are just a few tips to keep in mind as you begin year end processing in Sage 100.
1. General Ledger Closing
While it’s a good idea to close modules in a timely fashion. The General Ledger can remain open for as long as you need while awaiting final processing (or audit adjustments) in other modules. A GL that’s still open for 2018 will NOT prevent you from entering transactions for the new year.
2. Payroll Planning
Even if your company is on a fiscal year, you’ll need to close out payroll at the end of the calendar year. It’s a good idea to begin reconciling all of your payroll tax reports to the general ledger in early December. This gives you a chance to catch errors early and avoid filing an amended payroll tax return.
Note: All W‐2’s and quarterly reports must be printed before processing the first payroll for 2017.
3. Check Your Version Number
Closing procedures can vary depending on which version of Sage 100 you’re currently running. For Version 4.0 or above, do the following to identify both your version number and service pack: Select Help –> About Sage 100
4. Master Console
Once you’re actually ready to close, you need to make sure all users are out of the system. That’s where the Master Console comes in handy. This utility provides a snapshot of all users currently logged into Sage 100, the workstation being used, what programs/tasks they are using, the activity date, and more. From this screen, you can also broadcast a message to all users or even shut them down remotely. To launch the Master Console: Select File –> Master Console
For any Questions on Year End processing, please call: (310) 571-1200