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

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Summary

How to advance to period 1 of the next fiscal year without archiving my oldest fiscal year, in Sage 100 Contractor

Resolution

Advance from one posting period to the next using menu 1-6 Period/Fiscal Year Management, Change Period. When you advance to period 12 of your fiscal year, the software opens period 1 of the new fiscal year for posting.  This gives you the ability to post transactions to either the old fiscal year or 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.  Sage 100 Contractor manages multiple years of financial data and produces correct accounting reports for all years and periods.  Advance to period 1 of the new fiscal year when you’re ready.

Advance to period 1 of the new fiscal year after you are in period 12 of your current fiscal year. To advance to period 1 of the new fiscal year, do the following:

  1. Open Sage 100 Contractor with Administrator rights and exclusively.
  2. Open 1-6 Period/Fiscal Year Management.  Click Change Period.
  3. In the Change Period window, verify the current period is 12 and that the current fiscal year is correct. Also, verify that the Change period to is set to 1 and your new fiscal year is 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 click Recalculate Balances. If recalculating balances doesn’t fix the errors, print the report again and click the Chat now button below to contact Sage Customer Support for assistance.
  6. If the audit generates no errors, click Yes to the message "The Audit was completed successfully. Do you want to advance the default posting period to 1 of fiscal year 20##?"
  7. Your default posting period is now 1 of the new fiscal year.

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