Sage 300 ERP Closing Procedures Checklists

Year end processing in Sage 300 ERP (formerly “Accpac”) is designed to be fairly straight-forward. But understanding how to coordinate the process within each of the modules and in the proper sequence is important.  It also requires a bit of judgment based on your specific system configuration and business processes.  In this section, we provide a checklist for general period end and year end closing processes.

Period End Processing

Before you can begin year end processing, you’ll need to run through your period end processes first.  So here’s a checklist of typical period end procedures.  Make sure you’ve finished the typical daily procedures in all ledgers, then proceed with these period end processes: 

Order Entry

        Print Order Action and Aged Orders reports

        Print Sales History and Sales Statistics reports

Purchase Orders

        Print Purchase Order Action, Aged Purchase Orders, and Shippable Backorders reports

        Print Purchase History and Purchase Statistics reports

        Print audit lists

Inventory Control

        Print stock control reports

        Print price and sales analysis reports

Project & Job Costing

        Run Update Payroll

        Create billings

        Recognize revenue

        Print audit and analytical reports

        Clear posted documents and posting errors

U.S. / Canadian Payroll

        Run Update Payroll in Project and Job Costing, if you use that program

        Transfer employee timecards to Payroll employee timecards

        Calculate payroll, and print and verify the pre-check register

        Process payroll checks, or direct deposits

        For Canadian Payroll, print and file government reports, such as records of employment

        Print transaction listings and other reports you require

        Delete inactive records that you no longer need

        For US Payroll, print reports required by federal and state law (941, W-2, and Quarterly Wage reports)

Year End Processing

Once you’ve completed all period end processing tasks, you’re ready to begin closing out the year as follows:

Order Entry

        Clear transaction history that you do not need

        Clear statistics and sales history that you don’t need

Purchase Orders

        Clear transaction history that you do not need

        Clear statistics and purchase history that you do not need

Project and Job Costing

        Clear transactions for closed contracts and closed contracts that you do not need to keep

Inventory Control

        Do an inventory count

        Post a reconciliation worksheet to adjust for any variances found in the inventory count

        Clear statistics, expired contract prices

U.S./Canadian Payroll

        In addition, for calendar year end, print reports required by statute

Accounts Receivable

        Clear sales tax tracking information that you no longer need

        Clear history and statistics that you no longer need

        Print the Customer List and customer statistics reports to verify the transfer of data to the previous fiscal year

Accounts Payable

        Clear purchase tax tracking information that you no longer need

        Clear history and statistics that you no longer need

        Print the Customer List and customer statistics reports to verify the transfer of data to the previous fiscal year

General Ledger

        Using Period End Maintenance, delete prior-year fiscal sets

 

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