Fiscal year-end checklist

Verify Posting Period

          In 1-6 Period and Fiscal Year Management > Change Period, ensure the posting period is set to Period 12.

Backup and verification

          Back up and validate your company file by following your regular backup and verification procedures.

Rebuild indexes

          Open 7-4 Rebuild Indexes, select Options > Rebuild All Tables, and then click Start.

Inventory audit (optional, but strongly recommended if you use the Inventory module)

          If you use inventory, open 12-5 Inventory Audit, click Audit.

Verify checks

          Verify that there are no unprinted checks.

To find and resolve unprinted checks:

1. Open 2-5 General Journals.
2. Print the 2-5-21 General Journal report with the following settings:
   1. In the Account box, use the range for all cash accounts listed in 1-8 General Ledger Setup.
   2. In the Transaction# box, select Equal, and type 0000.
   3. In the Credit Amount box, select Greater or =, and type $0.01.

3. If the transaction is an unprinted check, open 1-1 Checks/Bank Charges, and then click the Print records button to print the check, if desired.

   If you don’t need to print a check, open 1-3 Ledger Transactions, and change the Transaction# to anything other than 0000.

Note: If it is a Source 16-Payroll, click the Go To Source button to change the Check#. It's highly unusual that the check number would have been changed to 0000 unless the check had to be reprinted immediately.

Period Audit Errors

Some audit errors refer specifically to periods. If period audit errors exist, the Audit report displays them prominently. For example, a period audit error will contain the word Period in the row.

You can resolve most period audit errors by recalculating the ledger balances. To recalculate the ledger balances, open 1-6 Period and Fiscal Year Management > Recalculate Balances, and then click Recalculate Balances.

Audit Errors Requiring Customer Support Assistance to Repair

Any remaining audit errors cannot be repaired by clicking Recalculate Balances on 1-6 Period and Fiscal Year Management > Recalculate Balances. These audit errors might originate in accounts receivable, jobs, vendors, service clients, equipment, or other areas of the program where transactions originate.

Caution! Resolving remaining audit errors after a repair requires assistance from Customer Support. The Knowledgebase article How do I get technical support for Sage 100 Contractor? provides contact information and hours of operation. Be prepared to provide your company name, telephone number, and the company contact person. At that time, a Customer Support technician may request additional reports to help determine the cause of the error.

Additional audit error reports are now included with Sage 100 Contractor to assist Customer Support technicians in identifying the transaction sources of audit errors.

Job status and removal

          Verify that the status on each job in 3-5 Jobs (Accounts Receivable) is correct. Any job that should be removed at year-end must have a status of 6-Closed or 2-Refused.

Note: If you need to change several jobs' statuses to 6-Closed, you can use a Picklist window to close multiple jobs at once. To access this command, open 3-5 Jobs (Accounts Receivable) and select Update > Closed Status.

Print reports and record counts for after year-end verification

          Print the following reports that will be used for verification purposes after the books have been closed:

• 2-2-21 Balance Sheet report for period 12
• 2-3-21 Income Statement report for periods 1 through 12
• 3-1-3-26 AR Invoice Aging report for period 12

• 4-1-3-26 AP Invoice Aging report for period 12

  Note: If you pay retainage in the next year for a prior year invoice and then print this report for the prior year, the report will show a reduced Retention amount, and the amount paid in the future period is allocated to the Current period or an aging period. Therefore, you should always print these reports as part of your year-end processing to ensure that you have a set of reports that reflect the true amount of retainage outstanding at year end.

• 5-1-2-41 Payroll Check Register report with “totals for status” equal to 3-Posted
• 5-4-3-21 ACA Full Time Equivalent Count report.
• 6-1-6-21 Job Cost Totals report for periods 1 through 12
• 11-1-3-26 Service Invoice Aging report for period 12, if you use Service Receivables

Tip: If you archive your data at year end, you can also print the reports from the archive company, later.