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How do I advance to period 1 of the next fiscal year without archiving my fiscal year

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How to advance to period 1 of the next fiscal year without archiving my fiscal year.


Important: Only the latest version of Sage 100 Contractor is supported for the current tax year. Year-End updates will not be issued for older versions of Sage 100 Contractor. To ensure your software is current with all government-required processing and reporting changes, open your Sage 100 Contractor company and click Home & Resources > Sage Support > Downloads and Updates.

You advance from one month to another using Change Period in 1-6 Period/Fiscal Year Management. The new period that you advance to is your default posting period. When you advance to period 12 of your fiscal year, the software also opens period 1 of the new fiscal year for posting, which gives you the ability to post transactions for either the old fiscal year or, as needed, for the new fiscal year.

When you advance to the first period of the new fiscal year, you can still post to periods in the prior year, because Sage 100 Contractor manages multiple years of financial data in your company folder, and produces correct accounting reports for all years and periods. There is no “close books” process. You should advance to period 1 of the new fiscal year when you are ready for period 1 to be your default posting period.

You can advance to the first period of the new fiscal year only when your default posting period (your current period) is 12. To change your default posting period from the last period (12) in the old fiscal year to the first period in the new fiscal year:

  1. In the Login window, select the Open company exclusively check box, and click Login.
  2. Open 1-6 Period/Fiscal Year Management, and click Change Period.
  3. In the Change Period window, verify that the current period is 12 and that the current fiscal year is listed correctly. Also, verify that the Change period to is set to 1 and your new fiscal year is indicated in the FY box.
  4. Click Change Period.
  5. An Audit of your books is automatically performed.
    • If you receive a message that audit errors were found, print the report, and then perform the Recalculate Balances option in the 1-6 Period/Fiscal Year Management window. If that does not fix the errors, please call support, or submit a ticket on the customer portal, for additional assistance. If submitting a support ticket online, please include the type of errors and how many were received.
  6. If the Audit is completed successfully, click Yes to the message The Audit was completed successfully. Do you want to advance the default posting period to 1 of fiscal year 20xx?
  7. Your default posting period is now 1.

Note: After advancing to period one of the new fiscal year, you can still post to periods in the prior year. Sage 100 Contractor automatically adjusts the beginning and ending account balances appropriately.

To find the Year-End Guide:


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