Locking fiscal periods in Sage 300 is an important part of your overall year end process. Enhancements that were included in Sage 300 ERP (formerly Accpac) Version 6.0 introduced the ability to lock or unlock fiscal periods individually for each module. In previous versions, you could only lock or unlock all modules at once. This added capability makes it easier to lock down modules in the proper sequence and prevent unexpected errors.
Preparing to Lock Fiscal Periods
It's important to understand how transactions flow through Sage 300 before you begin locking fiscal periods for individual modules.
The Preparing to Lock Fiscal Periods video on YouTube provides important information that you should review prior to locking fiscal periods.
Locking Fiscal Periods
After you review the set up and workflow information, you're ready to use the fiscal calendar to begin locking and unlocking fiscal periods. Here are some general best practices to keep in mind:
- Lock operations modules (OE, Inventory, etc.) before financial modules (GL, AP, AR, etc.).
- When locking Bank Services, also lock modules that integrate directly with it including AR, AP, & Payroll.
- Create and post all outstanding GL batches for a fiscal period before you lock it for GL.
Watch this Locking Fiscal Periods video on YouTube for step-by-step instructions. Or be sure to contact us if you'd like personalized guidance.
Get the Whole Scoop
This post is an article that appeared in our Sage 300 ERP newsletter for Year End 2012. To see all the articles in this newsletter issue, click the thumbnail image below.
Other Sage 300 year end processing articles you might be interested in:
Sage 300 ERP - The Year in Review
Closing Procedure Checklists for Sage 300 ERP
Sage 300 ERP Tax Updates
6 Tips for a Successful Year End in Sage 300 (Accpac)
10 Reasons to Upgrade to Sage 300 ERP 2012
What's New in Sage CRM?