Sage 300 ERP Year End

Sage 300 Year End Procedures: 
  •  Print year end check list:
 or in Sage 300 ERP> help> documentation>ENG> “Year End Check List” pdf.

 

  • Order W-2 & 1099 forms, if needed.
  • If you have Aatrix produce/mail the Paryoll forms you do not need them.  If printing 1099s you will need forms.
  • Complete all your regular processing for December and any end of year journal entries.
  • In Common Services, Fiscal Calendar add new fiscal year, If your fiscal calendar is based on calendar year (EG Year End 12/31/XX) otherwise you will do this at or just prior to the start date of your new Fiscal Year.
  • Run a data integrity check and run a backup.
  • Review your GL settings, Keep number of Fiscal Years & years details, prior year posting options, review your COA for any new accounts added during the year to ensure they have the correct account types prior to running create new year.  Confirm your closing period is open in the fiscal calendar, confirm that you have a default retained earnings account, if closing to multiple cost centers confirm your configuration for this.
  •  Run “Create New Year” in GL periodic processing.
If your fiscal calendar is based on calendar year (EG Year End 12/31/XX) otherwise you will do this at or just prior to the start date of your new Fiscal Year.
  • Contact your Sage Consultant to download & install Payroll Tax Update.
  • Print W-2s and other government reports.
You normally produce your W2s after the first tax update of the new calendar year.
  •  Do not run your first payroll of the New Year without current federal state tax rates.
  •  Print/review 1099 reports & make any adjustments needed before printing final copies the 1099 /1096 forms.
sage-300-mid-market-erpsage-Partner-Authorised-Partner-stacked-vert
Year End Questions? 
Need assistance with year end? Have questions? Please contact your Answers Certified Consultant for assistance. 
Eric Guindon 
Certified Consultant 
Toll Free: 866.680.7742 ex. 955
Cell Phone: 951.440.5963

eric@answersaccounting.com

Lynn S. Conley, CPA

Certified Consultant
Toll Free: 866.680.7742 ex. 913
Direct: 559.625.4908 

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