Preparation Steps
Before changing the accounting period in Sage 100, several preparatory steps are essential to ensure a smooth transition and protect your financial data.
Backup Your Data
Creating a comprehensive backup is crucial before making any changes to accounting periods. This serves as a safety net in case any issues arise during the process.
Create a Company Backup A full company backup should be performed through Library Master using the following steps:
- Access Library Master and select Company Maintenance
- Select the appropriate company code
- Create a complete backup of all modules
System Requirements
Ensure all users are logged out of the system before proceeding with any period changes. This prevents data conflicts and ensures data integrity during the process.
Changing the Current Period
Basic Period Change
To change the current accounting period in Sage 100, follow these steps:
- Navigate to General Ledger Setup menu > General Ledger Options
- On the Main tab, locate the Current Period field
- Select the desired accounting period
- Click Accept to save the changes
Fiscal Year Changes
When changing fiscal years, the process requires additional steps:
- Access General Ledger Setup menu > GL Options
- On the Main tab, modify the Current Fiscal Year field
- Update the Current Period field to match the desired period
- Click Accept to implement the changes
Reopening Closed Periods
Sometimes you may need to reopen a closed fiscal year to make adjustments or corrections. This is possible if you've retained the historical data in your system.
Steps to Reopen a Closed Period
- Select General Ledger Setup menu > GL Options
- On the Main tab, select the past fiscal year in the Current Fiscal Year field
- Choose the appropriate accounting period in the Current Period field
- Click Accept to confirm the changes
Period End Processing
Verification Steps
Before finalizing a period change, verify the following:
- All transactions for the current period have been entered
- All reports have been generated and archived
- All subsidiary ledgers have been reconciled
Post-Change Procedures
After changing the period, perform these essential tasks:
- Run an Internal Accounting Review
- Generate updated financial statements
- Verify beginning balances for the new period
Best Practices
Timing Considerations
Choose the optimal time to change periods:
- Schedule changes during off-hours
- Ensure all daily processing is complete
- Coordinate with other departments to prevent disruption
Documentation Requirements
Maintain proper documentation of period changes:
- Record the date and time of the change
- Note any special circumstances or adjustments
- Keep copies of key reports from both periods
Troubleshooting Common Issues
Period Mismatch
If you encounter period mismatch errors:
- Verify all modules are in sync
- Check for outstanding transactions
- Ensure all posting processes are complete
Data Verification
After changing periods, verify data integrity:
- Run trial balance reports
- Compare ending balances
- Check subsidiary ledger reconciliations
Security Considerations
Access Controls
Implement proper security measures:
- Restrict period change capabilities to authorized personnel
- Maintain audit trails of period changes
- Review security logs regularly
Data Protection
Protect your financial data:
- Maintain multiple backup copies
- Store backups in secure locations
- Test backup restoration procedures regularly
Advanced Features
Automated Period Management
Sage 100 offers features to help manage period changes:
- Automated period-end processing
- Built-in verification checks
- System alerts for pending period changes
Integration Considerations
When changing periods, consider the impact on:
- Integrated modules
- Third-party applications
- External reporting systems
Reporting Requirements
Period-End Reports
Generate essential reports before and after period changes:
- Trial Balance
- Income Statement
- Balance Sheet
- Subsidiary Ledger Reports
Audit Trail
Maintain comprehensive audit trails:
- Document all period changes
- Record reasons for changes
- Keep supporting documentation
Year-End Considerations
Special Procedures
Year-end period changes require additional steps:
- Complete all year-end closing procedures
- Verify fiscal year settings
- Update tax reporting information
Data Retention
Implement proper data retention policies:
- Maintain historical records
- Archive old periods
- Follow regulatory requirements
Conclusion
Changing accounting periods in Sage 100 requires careful attention to detail and proper procedure. By following these comprehensive guidelines, you can ensure accurate financial records and maintain data integrity throughout the process. Remember to always create proper backups, verify data accuracy, and maintain appropriate documentation of all changes.
Citations: [1] https://www.perdisco.com/sage50learning/gettingstarted/timesettings.aspx [2] https://www.acutedata.com/how-to-change-fiscal-year-periods-in-general-ledger-for-sage-100/ [3] https://www.marketingexamined.com/blog/the-ultimate-guide-to-blog-post-formatting [4] https://seowind.io/how-long-does-it-take-to-write-a-blog-post/ [5] https://siddharthrajsekar.com/2000-word-blog-post/ [6] https://www.theblogsmith.com/content-style-guide/ [7] https://www.youtube.com/watch?v=iqTZHLVwauI [8] https://www.keepcalmandchiffon.com/blog/blog-writing [9] https://blog.hubspot.com/marketing/how-to-start-a-blog [10] https://www.rklesolutions.com/blog/sage-100-erp-year-end-faqs-general-ledger [11] https://www.youtube.com/watch?v=DNqMSie4oho [12] https://skylarkvirtualservices.com/best-practices-for-formatting-long-blogs/ [13] https://help-sage100.na.sage.com/2018/Subsystems/GL/GLSetupProced/CHG_FSCL_YR_PERIODS.htm [14] https://asifocus.com/blog/sage-100-year-end-tips-and-faqs/
