Review this chart to determine which applications have a close task. Sometimes, the task wording may be different from the wording in the chart. For example, in General Ledger, you run Task, Close Fiscal Year rather than Task, Close Year.
Always make a backup of your data before performing closing processes.

 

Application	Close Period	Close Month	Close Year	Future Period Limit	Comments
Accounts Payable			x		Also run Tasks, Close 1099 Year.
Accounts Receivable			x	1 year
Cash Management			x	N/A
Contracts		x		1 month	Close on the first business day of each month. If the date in CN Settings gets more than one month behind, it will affect totals in the Billing module for Contract-Based Invoices. Use this task to close the year as well.
General Ledger	x		x	6 periods	You can reopen periods in the current or prior fiscal year to make entries. Prior year entries require additional steps of closing prior year adjustments.
Equipment	x See comments	x		1 month	Verify the period type in EQ Settings.
Job Cost	x See comments	x		1 period or 1 months	Verify the period type in JC Settings. Use this task to close the year as well.
Payroll		x	x	0 months	You must close the month before processing the first check with a check date in the next month. Example: The Period End Date is 10/28/2024, the Check Date will be 11/02/2024. You have to close the month of October before processing payroll for the check dated in November.
Property Management	x See comments		x		Use this task to close the year as well.

Note: You can use the Monthly Tasks Workflow Center in the Sage Desktop to perform common monthly tasks from one location. Follow these steps to access:

For versions 16.1 and later:

1. Launch Sage Desktop.
2. Go to Applications, Additional Tools.
3. Launch the Monthly Tasks Workflow Center.

 

[BCB:156:Chat 300 CRE US:ECB]