When to archive last year's company data

When do I archive last year's company data in Sage 100 Contractor?

In version 26.1 or later, you can combine the oldest fiscal and payroll years for archiving. You can do this with the Archive Oldest Fiscal Year process in Database Administration. The company database's fiscal year-end must be December 31, matching the payroll year-end.

Sage 100 Contractor retains years of accounting data and generates accurate annual reports. Before archiving, enter all transactions, corrections, and prior year adjustments from your tax advisor. It's best practice to wait a few months before archiving.

Why wait to archive the oldest fiscal year

• You need to enter Invoices and payments for the last fiscal year
• Your tax advisor has prior year adjusting journal entries to post
• Bank reconciliation for a prior fiscal year month isn’t complete

Why archive your oldest fiscal year

• You want to view each year in a separate company database
• Reports are running slow because of the large data size
• Selling the company
• Changing your fiscal year-end date
• Running low on computer disk space