It’s that time of year again… Year End!
Once again those of you in finance departments across the land will be preparing for Year End. We’ve put together this handy step-by step on how to set up a new year for your reference.
You can find this, and many more tips and tricks in our FAQ section.
FIRST BACK UP YOUR DATA, then:
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 confirm 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.
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, 2016 the current year showing would be 2016).
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”.
Once the year is created, a message will display indicating that the new year has been created.