We've compiled some of the most popular and important procedures, checklists, FAQs, and other resources that will guide you through Sage 100 Year End processing. Click any of the categories below for more detail on the topic.
Be sure to get in touch with your Sage 100 Partner with specific questions or to request help with Sage 100 Year End Closing.
Be sure to get in touch with your Sage 100 Partner with specific questions or to request help with Sage 100 Year End Closing.
7 THINGS TO KNOW BEFORE CLOSING THE BOOKS
1. Backup Your Data
Executing a complete backup of your Sage 100 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.
See Also: How to Backup Sage 100
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.
See section below for module closing sequence.
3. Follow the Module Closing Checklists
Step-by-step checklists are available for most modules. These checklists provide guidance on the sequence of detailed tasks and procedures that should be performed within each module.
Detailed checklists for each module can be accessed right from within the Sage 100 Help system.
4. 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 2020 will NOT prevent you from entering transactions for the new year.
5. Check Your Version Number
Closing procedures can vary depending on which version of Sage 100 you’re currently running. Do the following to identify both your version number and service pack:
Select Help > About Sage 100
6. Master Console
Once you’re 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’re using, and more. You can also broadcast a message to all users or even shut them down remotely.
To launch the Master Console:
Select File > Master Console
7. Get Help When Needed!
Be sure to contact your Sage Authorized partner and reseller 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.
Executing a complete backup of your Sage 100 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.
See Also: How to Backup Sage 100
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.
See section below for module closing sequence.
3. Follow the Module Closing Checklists
Step-by-step checklists are available for most modules. These checklists provide guidance on the sequence of detailed tasks and procedures that should be performed within each module.
Detailed checklists for each module can be accessed right from within the Sage 100 Help system.
4. 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 2020 will NOT prevent you from entering transactions for the new year.
5. Check Your Version Number
Closing procedures can vary depending on which version of Sage 100 you’re currently running. Do the following to identify both your version number and service pack:
Select Help > About Sage 100
6. Master Console
Once you’re 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’re using, and more. You can also broadcast a message to all users or even shut them down remotely.
To launch the Master Console:
Select File > Master Console
7. Get Help When Needed!
Be sure to contact your Sage Authorized partner and reseller 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.
MODULE CLOSING ORDER
A year end process in one module often writes data to another module. Therefore, the sequence in which you close your Sage 100 modules is extremely important in order to avoid the risk of damaging your data.
IMPORTANT: Remember to back up your data before starting any module closing procedures. Refer to the “how to backup data” article included in this newsletter for guidance.
*Note: While there is no formal closing procedure in the Bill of Materials, Work Order, or MRP 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.
Get the Full Details
IMPORTANT: Remember to back up your data before starting any module closing procedures. Refer to the “how to backup data” article included in this newsletter for guidance.
- Bill of Materials*
- Work Order Processing*
- Bar Code
- Purchase Order Processing
- Sales Order Processing
- Inventory Management
- Material Requirements Planning (MRP)*
- Timecard
- Payroll (Quarter-end processing)
- Accounts Receivable
- Accounts Payable
- Job Cost
- Bank Reconciliation
- General Ledger
*Note: While there is no formal closing procedure in the Bill of Materials, Work Order, or MRP 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.
Get the Full Details
CREATING A Company/database BACKUP
At year end, it’s important to create an archive company using the Copy Company feature. This provides a readily accessible copy (and backup) of the current year’s data even after you perform year end processing in your live company.
To use the copy company feature, go to:
Library Master > Main Menu > Company Maintenance
For full instructions including a video demonstration, click the button below:
To use the copy company feature, go to:
Library Master > Main Menu > Company Maintenance
For full instructions including a video demonstration, click the button below:
Year End FAQs for General Ledger
Here are answers to a handful of the most Frequently-Asked Questions (FAQs) regarding General Ledger and Reporting when it comes to year end processing.
Can I print financial statements for the NEXT fiscal year PRIOR to performing year end processing?
YES. In the Fiscal Year field within the applicable report window, simply select the fiscal year to print.
DO NOT manually change the fiscal year in General Ledger Options in order to print financial statements for the next fiscal year.
After year-end processing, can I delete accounts that will no longer be used in the new fiscal year and still run comparison statements?
Information about prior fiscal years is stored by account number. These account numbers must be retained for as long as you require comparisons.
Instead of deleting, you can set the status of an account to Inactive which prevents future postings but still retains the account number for comparisons. On the Main Tab in Account Maintenance, select Inactive in the Status field and click Accept.
Can I open a closed fiscal year to make General Ledger postings/adjustments?
YES. If you retained detail history for a prior fiscal year by entering the ‘Years to Retain General Ledger History’ field in GL Options, you can reopen and post to a closed fiscal year.
TO POST TO A CLOSED FISCAL YEAR:
1. Select General Ledger Setup menu > GL Options
2. On the Main tab, in the Current Fiscal Year field, select the past fiscal year to reopen
3. In the Current Period field, select the accounting period to post to and click Accept
4. In General Journal Entry or Transaction Journal Entry, enter the transaction to the reopened fiscal year and period and update the journal entry.
5. Reprint year end reports when you’re finished
6. Go back to General Ledger Options Main tab and select the current year in the Current Fiscal Year field, and the current period in the Current Period field. Click Accept.
You’ve just re-opened the closed fiscal year, posted a journal entry, and reverted back (in step 6) to the current fiscal period and year.
Note: Closed fiscal years can only be reopened in the General Ledger module.
Can I process year end in General Ledger before I’m finished with the other modules?
NO. General Ledger should be the very last module you close. Refer to the Module Closing Order article earlier in this newsletter for details on the proper closing sequence.
Can I print financial statements for the NEXT fiscal year PRIOR to performing year end processing?
YES. In the Fiscal Year field within the applicable report window, simply select the fiscal year to print.
DO NOT manually change the fiscal year in General Ledger Options in order to print financial statements for the next fiscal year.
After year-end processing, can I delete accounts that will no longer be used in the new fiscal year and still run comparison statements?
Information about prior fiscal years is stored by account number. These account numbers must be retained for as long as you require comparisons.
Instead of deleting, you can set the status of an account to Inactive which prevents future postings but still retains the account number for comparisons. On the Main Tab in Account Maintenance, select Inactive in the Status field and click Accept.
Can I open a closed fiscal year to make General Ledger postings/adjustments?
YES. If you retained detail history for a prior fiscal year by entering the ‘Years to Retain General Ledger History’ field in GL Options, you can reopen and post to a closed fiscal year.
TO POST TO A CLOSED FISCAL YEAR:
1. Select General Ledger Setup menu > GL Options
2. On the Main tab, in the Current Fiscal Year field, select the past fiscal year to reopen
3. In the Current Period field, select the accounting period to post to and click Accept
4. In General Journal Entry or Transaction Journal Entry, enter the transaction to the reopened fiscal year and period and update the journal entry.
5. Reprint year end reports when you’re finished
6. Go back to General Ledger Options Main tab and select the current year in the Current Fiscal Year field, and the current period in the Current Period field. Click Accept.
You’ve just re-opened the closed fiscal year, posted a journal entry, and reverted back (in step 6) to the current fiscal period and year.
Note: Closed fiscal years can only be reopened in the General Ledger module.
Can I process year end in General Ledger before I’m finished with the other modules?
NO. General Ledger should be the very last module you close. Refer to the Module Closing Order article earlier in this newsletter for details on the proper closing sequence.
How to correct an out-of-balance General Ledger
There are a variety of reasons that your general ledger can get out of balance.
In the video below, you’ll learn how to discover and correct the out-of-balance situation including instructions for making one-sided journal entries.
In the video below, you’ll learn how to discover and correct the out-of-balance situation including instructions for making one-sided journal entries.
Sage 100 supported Versions
What versions of Sage 100 are currently supported? What is the “end of life” date for the version I’m running now? Those questions are answered in the table and notes below:
Important Notes:
Due to changes that impact the 2020 payroll tax year, the IRS released a new Form W-4. Sage 100 Version 2017 & earlier will not support the additional fields necessary to correctly calculate federal withholding taxes.
Retired versions of Sage 100 have limited or no support and Sage is no longer making callback appointments or researching issues on retired products.
Due to changes that impact the 2020 payroll tax year, the IRS released a new Form W-4. Sage 100 Version 2017 & earlier will not support the additional fields necessary to correctly calculate federal withholding taxes.
Retired versions of Sage 100 have limited or no support and Sage is no longer making callback appointments or researching issues on retired products.
Sage 100 Year End videos
Overview of Period and Year-End Processes
How to Reconcile the Trial Balance
Year End: Filing 1099s
Payroll 2.0+ - Federal and State Tax Reporting
Affordable Care Act (ACA) Reporting Tips
Sage has put together an ACA Resource Center to help you understand the provisions as well as track and report the necessary data in Sage 100 in order to remain in compliance. Here are some popular ACA resources to consider reviewing.
How to Set Up ACA Tracking in Sage 100
Step-by-step instructions for setting up Sage 100 for ACA tracking and reporting.
Review Setup Procedure / Watch the Video
How Do I Generate the Required Forms?
Instructions for generating and printing required ACA forms in Sage 100 including 1094 and 1095.
How to Generate ACA Forms / Watch the Video
How to Report Employer-Sponsored Healthcare Coverage on the W2 Using Sage 100
Setting up Sage 100 Payroll to track and report the cost of coverage under an employer-sponsored group health plan.
Review Instructions / Watch the Video
CONSULTANT YOUR ACCOUNTANT
These resources and articles are designed to provide general guidance on using Sage 100 for ACA compliance.
Be sure to consult with your accountant or tax advisor for legal advice or guidance that’s personalized to your company-specific requirements.
Visit ACA Center
How to Set Up ACA Tracking in Sage 100
Step-by-step instructions for setting up Sage 100 for ACA tracking and reporting.
Review Setup Procedure / Watch the Video
How Do I Generate the Required Forms?
Instructions for generating and printing required ACA forms in Sage 100 including 1094 and 1095.
How to Generate ACA Forms / Watch the Video
How to Report Employer-Sponsored Healthcare Coverage on the W2 Using Sage 100
Setting up Sage 100 Payroll to track and report the cost of coverage under an employer-sponsored group health plan.
Review Instructions / Watch the Video
CONSULTANT YOUR ACCOUNTANT
These resources and articles are designed to provide general guidance on using Sage 100 for ACA compliance.
Be sure to consult with your accountant or tax advisor for legal advice or guidance that’s personalized to your company-specific requirements.
Visit ACA Center
AFFORDABLE CARE ACT FAQS
In effect as of January 1, 2015, The Affordable Care Act (or "ACA") contains healthcare responsibilities for employers based on the number of employees in an organization. Employers with 50 or more full time employees (or a combination of part time and full time equivalent (FTE) employees equal to 50 full time employees) are subject to the Employer Shared Responsibility provisions of the ACA.
Here are FAQs about how to manage and support ACA requirements using Sage 100:
How does Sage 100 support ACA reporting?
Sage 100 software has been continuously updated to include features and capabilities that assist you with ACA reporting requirements, including help with:
Which ACA forms can I print with Sage 100?
Sage 300 allows you to print both forms, 1094-C and 1095-C
Does Sage provide ACA training?
Yes, on-demand ACA training is available at no charge to Sage customers and partners at the Affordable Care Act center on Sage City.
Here are FAQs about how to manage and support ACA requirements using Sage 100:
How does Sage 100 support ACA reporting?
Sage 100 software has been continuously updated to include features and capabilities that assist you with ACA reporting requirements, including help with:
- Determining the number of hours an employee worked
- Determining if an employee is full or part time
- Determining if the number of part time employees together equal a full time employee (FTE).
- Showing healthcare coverage costs to determine affordability
- Tracking self-insured employee coverage
- Reporting employer-sponsored health care coverage on W2 forms
Which ACA forms can I print with Sage 100?
Sage 300 allows you to print both forms, 1094-C and 1095-C
Does Sage provide ACA training?
Yes, on-demand ACA training is available at no charge to Sage customers and partners at the Affordable Care Act center on Sage City.
Year End FAQs for Sage 100 Payroll Processing
1. What updates do I need for Payroll Year End?
2. Should the 2.22.0 update be installed before or after closing 2021 and running W-2?
PR 2.22.0 update should be installed before running W2 forms. Tax update in the new Sage 100 payroll 2.0 (payroll, utilities, Payroll Tax Update) should be run before running payroll for 2022. Year end processing can be run before or after updating payroll to 2.22.0 or running W2 forms.
3. Can I run W2s from Sage 100 2018, 2017 and other unsupported versions?
Aatrix efiling forms update independently from the Sage 100 version, so even Sage 100 2017 and older versions may be able to run the 2021 W2 after updating the forms. However, only supported versions listed in question 1 above will receive the required year-end updates which ensure that data is routed correctly from Sage 100 files to the efiling forms, and Sage 100 support cannot assist with any issues running W2s or other efiling forms in unsupported versions. Corrections can be made directly in the efiling form processor if needed.
4. Can I run payroll for January 2022 before running period-end processing for payroll year 2021 in the new Sage 100 payroll 2.0?
Yes. It’s possible to run payroll in the new year before running year end (“period end processing”). But as a best practice, any final postings to payroll year 2021 should be completed and period-end processing should be run to close the 2021 payroll year before entries are made to 2022. Even in the new payroll 2.0, there are still important calculations and time off accrual rollover triggered by year end processing, as well as resets for deduction goals and Direct Deposit YTD amounts, for example.
5. Do I need to run my W2s before I run period-end processing?
No. Sage 100 partnered with Aatrix for forms processing starting with MAS90 4.50 and the data table that holds efiling information stores detailed records year-over-year in all versions. Some recent versions of the program may even warn you with a pop-up message indicating that W2s need to be run before year-end processing but this is no longer accurate.
6. In the past I’ve been instructed to run W2s from a year-end copy company, is this still accurate?
No. Efiling forms, including W2s, should be run in the “live company” and not a Sage 100 copy company so that the forms archive is kept together in the same database.
7. Can I reopen a closed payroll quarter/year?
No, you cannot reopen a closed payroll quarter or year in either the new payroll 2.0 or legacy payroll versions. There are some amounts, like benefit accruals, which are reset during year-end processing or anniversary date if using that new option, and thus prior payroll periods should not be reopened.
8. Do I need to be active on a payroll support plan to run W2s and other year-end forms?
Yes. An active payroll subscription is required for processing any NEW payroll forms.
See Also: what to do if your Sage 100 Subscription expires
- Payroll 2.22.0 update for payroll 2.0 installs - this prepares Sage 100 for year-end forms processing in payroll and for routing data correctly to these forms. The PR 2.22.0 release notes explain some of the changes but there are many state and local last-minute changes as well as PIM code (data mapping tag) updates that are not available in the 2.21.3 version. If you're unable to update to 2.22.0, then thorough testing should be done for accuracy and correction in the Aatrix forms preparer can be done where necessary. Note: PR 2.22.0 will only install on Sage 100 versions 2018.5 and later.
- Tax Table Update (TTU) - legacy payroll versions have now been fully retired and there will be no further TTU releases. Tax rates are kept in the cloud for versions 2018 and higher and applied according to check date.
- Interim Release Download (IRD) – IRDs are no longer published or required for payroll.
2. Should the 2.22.0 update be installed before or after closing 2021 and running W-2?
PR 2.22.0 update should be installed before running W2 forms. Tax update in the new Sage 100 payroll 2.0 (payroll, utilities, Payroll Tax Update) should be run before running payroll for 2022. Year end processing can be run before or after updating payroll to 2.22.0 or running W2 forms.
3. Can I run W2s from Sage 100 2018, 2017 and other unsupported versions?
Aatrix efiling forms update independently from the Sage 100 version, so even Sage 100 2017 and older versions may be able to run the 2021 W2 after updating the forms. However, only supported versions listed in question 1 above will receive the required year-end updates which ensure that data is routed correctly from Sage 100 files to the efiling forms, and Sage 100 support cannot assist with any issues running W2s or other efiling forms in unsupported versions. Corrections can be made directly in the efiling form processor if needed.
4. Can I run payroll for January 2022 before running period-end processing for payroll year 2021 in the new Sage 100 payroll 2.0?
Yes. It’s possible to run payroll in the new year before running year end (“period end processing”). But as a best practice, any final postings to payroll year 2021 should be completed and period-end processing should be run to close the 2021 payroll year before entries are made to 2022. Even in the new payroll 2.0, there are still important calculations and time off accrual rollover triggered by year end processing, as well as resets for deduction goals and Direct Deposit YTD amounts, for example.
5. Do I need to run my W2s before I run period-end processing?
No. Sage 100 partnered with Aatrix for forms processing starting with MAS90 4.50 and the data table that holds efiling information stores detailed records year-over-year in all versions. Some recent versions of the program may even warn you with a pop-up message indicating that W2s need to be run before year-end processing but this is no longer accurate.
6. In the past I’ve been instructed to run W2s from a year-end copy company, is this still accurate?
No. Efiling forms, including W2s, should be run in the “live company” and not a Sage 100 copy company so that the forms archive is kept together in the same database.
7. Can I reopen a closed payroll quarter/year?
No, you cannot reopen a closed payroll quarter or year in either the new payroll 2.0 or legacy payroll versions. There are some amounts, like benefit accruals, which are reset during year-end processing or anniversary date if using that new option, and thus prior payroll periods should not be reopened.
8. Do I need to be active on a payroll support plan to run W2s and other year-end forms?
Yes. An active payroll subscription is required for processing any NEW payroll forms.
See Also: what to do if your Sage 100 Subscription expires
RELATED ARTICLES:
How to Use the Built-in Sage 100 Help System
Sage 300 Year End Closing Procedures
How to Run Year End Simulation in Sage X3
How to Use the Built-in Sage 100 Help System
Sage 300 Year End Closing Procedures
How to Run Year End Simulation in Sage X3
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