Fiscal Year End

Peter Finance Leave a Comment

It’s that time of year again… You can find this and a boat load of other helpful tips on our FAQ pages.

How to create a new year in Sage 300 General Ledger:

FIRST BACK UP YOUR DATA, then:

  1. Go to General Ledger, GL Setup, Options and select the Posting tab. Verify that the number of years’ transaction history to keep is greater than 1. Some versions of Sage 300 may only allow you to keep a minimum of 7 years of history, while other versions will allow you to retain up to 99 years history. Once you confrim the # of years of history you are keeping and if you are at your limit we can assist you in setting up a historical database so you will have it available for inquiry purposes for prior years’ data.
  2. Verify that the Create New Year function has not yet been run by verifying that the current year showing is the actual calendar year (for example: if the current date is March 31, 2017 the current year showing would be 2017).
  3. Next, select Periodic Processing, Create New year. You will have a warning to backup prior to proceeding. DO NOT IGNORE THIS WARNING! As long as you have done a backup, select “Process”.
  4. Once the year is created, a message will display indicating that the new year has been created. NOTE: IT IS VERY IMPORTANT THAT YOU DO NOT RESET BATCH NUMBERS, AS IT WILL ELIMINATE THE ABILITY TO LOOK AT TRANSACTION DETAILS FOR YOUR AUDITOR

If you want one of our Sage Experts to walk you through this process over the phone, or you have any other Sage 300 support questions, contact us via the form below.

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