Sage 100 (MAS 90/200) Period End Processing Overview / Checklist

Use Period End Processing to automatically perform either period end or year end processing based on the period entered at the Current Period field in each module’s options.

Period End Processing allows you to close the current period and increment the accounting period forward to the next period.  Period End Processing is usually performed at the end of each accounting period.  Year End Processing takes place automatically when Period End Processing is performed for the last period of the fiscal year.

Close the Sage 100 modules in the following order:

1. P/O – Purchase Order
2. S/O – Sales Order
3. I/M – Inventory Management
4. M/P – Materials Requirement Planning (Year-End only)
5. A/R – Account Receivable
6. A/P – Account Payable
7. G/L – General Ledger

The following Sage 100 modules do not have Period End Processing:

1. W/O – Work Order
2. B/M – Bill of Materials
3. R/M – Return Merchandise Authorization
4. B/R – Bank Reconciliation

Note:  Back-up all data before completing Period End Processing.  If a module is not activated, skip to the next module.

Purchase Order

The following occurs during period end or year end:

• Expired master and repeating orders are automatically purged as of the period ending date.
• Completed purchase orders are automatically purged based on the number of days to retain completed purchase orders in Purchase Order Options.
• The purchase order recap is automatically purged if selected in Purchase Order Options.
• Receipt history is automatically purged based on the selection made in Purchase Order Options.
• All purchase history and miscellaneous charge year-to-date balances are set to zero as of the year-ending date.

P/O Period End Checklist –

• Verify that all Receipt of Goods and Receipt of Invoices have been updated for the current period.
  • Purchase Order, Main menu.
• Verify that all Return of Goods and Material Requisition issues have bene updated for the current period.
  • Purchase Order, Mat. Req / Return menu.
• Print the Purchases Clearing Report, balance with the General Ledger. Any transaction over 30 days should be reviewed.
  • Purchase Order, Period End menu.
• Run Period End Processing.
  • Purchase Order, Period End menu.

Note:  If you have not already printed period end reports, you can do so during Period End Processing.  You can also select and print period end reports without accessing Period End Processing by using Period End Selection.

Sales Order

The following occurs during period end or year end:

• The Sales Order Recap is purged based on options selected in Sales Order Options during period-end and year-end.
• Expired master and repeating orders are automatically purged as of the period-ending date during period-end and year-end.
• Sales history is purged based on the number of years to retain sales history in Sales Order Options only during year-end processing.

S/O Period End Checklist –

• Verify that all Invoices have been updated for the current period.
  • Sales Order, Main menu.
• Print the Open Sales Order Report.
  • Sales Order, Reports menu.
• Run Period End Processing.
  • Sales Order, Period End menu.

Note:  If you have not already printed period end reports, you can do so during Period End Processing.  You can also select and print period end reports without accessing Period End Processing by using Period End Selection.

Inventory Management

The following occurs during period end or year end:

• The year-to-date sales and issue information are cleared for each item based on the years to retain history in Inventory Management Options.

I/M Period End Checklist –

• Verify that all Inventory Sales, Receipts, Transfers, Issues, and Adjustments have been updated for the current period.
  • Inventory Management, Main menu.
• If you have LIFO, FIFO, Lot, or Serial as your Valuation method, print the Inventory Negative Tier Report to check for negative tiers. If negative tiers exist, they must be corrected.
  • Inventory Management, Period End menu.
• Print the Inventory Valuation Report, balance with the General Ledger.
  • Inventory Management, Reports.
• Print the Inventory Stock Status Report, Inventory Transaction Detail Report and Inventory Trial Balance Report.
  • Inventory Management, Reports.
• Run Period End Processing.
  • Inventory Management, Period End.

Materials Requirement Planning

The following occurs during period end or year end:

• Period End Processing is performed only once a year in MRP.
• Period End Processing is used to close out the previous year’s demands, which allow you to create projected demands for the new year.
• Set the Accounting Date in MRP to the last day of the Fiscal or Calendar Year specified in Inventory Management Options.
• Period End Processing in MRP should be performed after Inventory Management.

Accounts Receivable

The following occurs during period end or year end:

• Temporary customers with zero balances are automatically purged during period and year end processing unless you selected the Retain Temporary Customers Paid Invoices check box in Accounts Receivable Options.
• Monthly cash receipts history, customer sales history, and salesperson sales history is purged only during period year-end processing based on the selections made in the Years to Retain Cash Receipts History, Years to Retain Customer History, and Years to Retain Salesperson History fields in Accounts Receivable Options. For example, if the number of years to retain cash receipts history, customer sales history, and salesperson history is set to three years, sales and cash receipts history for the year 2010 will be purged when year-end processing is performed for the year 2012.
• Open invoices with zero balances are removed during period- and year-end processing based on the number of days entered in the Days to Retain Paid Invoices field in Accounts Receivable Options.

A/R Period End Checklist –

• Verify that all Invoices and Cash Receipts have been updated for the current period.
  • Accounts Receivable, Main menu.
• Run Finance Charge Calculation to apply finance charges to past due customers. Use Finance Charge Entry to make any manual adjustments, print the Finance Charge Journal, and update (if Finance Charges are applicable).
  • Accounts Receivable, Period End menu.
• Print the Accounts Receivable Aged Invoice Report, balance with the General Ledger
  • Accounts Receivable, Reports menu.
• Print Statements.
  • Accounts Receivable, Period End menu.
• Print the Accounts Receivable Sales Tax report as required by your taxing jurisdiction (if Sales Tax is applicable).
  • Accounts Receivable, Reports menu.
• Run Period End Processing.
  • Accounts Receivable, Period End menu.

Accounts Payable

The following occurs during period end or year end:

• Temporary vendors with zero balances are automatically purged unless you selected to retain the temporary vendor in Vendor Maintenance.
• Check history information is cleared as of the period-ending date.
• Vendor electronic payment history is removed based on the number of years set up to retain electronic payment history in Accounts Payable Options.
• Vendor purchase history is removed based on the number of years set up to retain purchase history in Accounts Payable Options.
• Open invoices with zero balances are removed based on the number of days to retain paid invoices in Accounts Payable Options.
• If retaining invoice history, all current year invoice information is updated to the Last Year fields, and any invoice history with no current-year activity is removed based on options selected in Accounts Payable Options.

A/R Period End Checklist –

• Verify that all Invoices and Manual Checks have been updated for the current period.
  • Accounts Payable, Main menu.
• Verify that all Checks and Electronic Payments have been updated for the current period.
  • Accounts Payable, Check Printing and Electronic Payment menu.
• Print the Accounts Payable Aged Invoice Report, balance with the General Ledger
  • Accounts Payable, Reports menu.
• If you are completing Period End Processing for December print Form 1099 Printing (if Form 1099 Printing is applicable).
  • Accounts Payable, Reports menu.
• Run Period End Processing.
  • Accounts Payable, Period End menu.

General Ledger

The following occurs during period end or year end:

• Accounts with a Deleted status can be removed during year end processing based on activity and the selection to retain history in General Ledger Options.
• Any accounts with no activity are automatically removed.
• If the Copy Actual to Default Budget at Year End check box is selected in the General Ledger Options, the actual amounts for the closed fiscal year are copied to the default budget for the current fiscal year.
• Options for resetting journal numbers are performed.
• If the Clear Balances check box in Main Account Maintenance is selected for a main account value, balances are cleared for nonfinancial accounts at year end.
• If retaining transaction history, all current year transaction information is updated and any transaction history with no current year activity is removed based on options selected in General Ledger Options.

G/L Period End Checklist –

• Verify that the Daily Transaction Register has been updated for the current period.
  • General Ledger, Main menu.
• Verify that all General Journal, Recurring Journal and Transaction Journal Entries have been updated for the current period.
  • General Ledger, Main menu.
• Run Allocation Selection, print and update the Allocation Journal for the current period.
  • General Ledger, Period End menu.
• Print the General Ledger Detail Report, General Ledger Trial Balance and Financial Statements for the current period.
  • General Ledger, Reports menu.
• Run Period End Processing.
  • General Ledger, Period End menu.

Please reach out to your Account Manager for additional information.