Where do I perform year-end closing or archiving?

 UPDATED: Version 26.1 and later offers the option to combine archiving of the oldest fiscal year and the oldest payroll year during the Archive Oldest Fiscal Year process in Database Administration for Sage 100 Contractor.  To perform this action, the company database's Fiscal year-end date must be December 31, just like the payroll year-end.

• There is a checkbox allowing you to opt out of a combined archive.
• The checkbox is selected by default.
• A “Payroll Warning” message displays when performing a combined archive before the payroll archive process.
• The wizard's Maintenance Tasks have been updated to provide “Payroll Options" that offer the same options as those offered when performing the Archive Oldest Payroll Year process.
• Results of the Maintenance Tasks will include the number of employees removed and the number of employees marked as inactive.

Sage 100 Contractor SQL can hold multiple years of company data, and produce correct accounting reports for all years and periods. It is not necessary to archive your oldest fiscal to advance into the new fiscal year. You can enter transactions for the new fiscal year and post them, without archiving your company data. This also means that you can continue to enter and post transactions for the old fiscal year, even though you are also entering and posting transactions for the new fiscal year.   It is still necessary to either Close the Payroll Year or Archive the Oldest Payroll before entering any payroll records for the current year.

Sage 100 Contractor SQL includes tasks for the following

• Close Payroll Year
• Archive Oldest Payroll Year
• Archive Oldest Fiscal Year

Where to Close Payroll Year, Archive Oldest Payroll Year, or Archive Oldest Fiscal Year

• Close Payroll Year is executed from menu 5-3-8 Close Payroll Year
• Archive Oldest Payroll Year is executed from Database Administration for Sage 100 Contractor,  Archive Company Data,  Archive Oldest Payroll Year
• Archive Oldest Fiscal Year is executed from Database Administration for Sage 100 Contractor,  Archive Company Data,  Archive Oldest Fiscal Year

General information about advancing to the first period in the new fiscal year

You advance the fiscal period using the Change Period feature in menu 1-6 Period/Fiscal Year Management, Change Period of the company database.

When you change your default posting period from 11 to 12 of your fiscal year, period 1 of the new fiscal year opens so that you can begin entering transactions to the new fiscal year. (The program will run an audit, and will not advance to the new fiscal year if there are any audit errors.) Once you change your default posting period to 1 of the new fiscal year, posting periods 2 through 12 of the new fiscal year will become available. You will be able to post to all of the posting periods that haven't been archived, so it is recommended you lock posting periods that you no longer need to post in.

General information about the Archive Oldest Fiscal Year process

Sage 100 Contractor does not require you to archive your fiscal year data to advance to the next fiscal year. You can have multiple years of data in your current company at one time, and the software produces accurate accounting reports for all years and periods.

When you no longer require frequent access to a prior year’s company data and you have entered all transactions for that prior year (and posted all corrections and entries recommended by your tax advisor for that prior year), you can move the prior year data out of your current company database into a separate database by using the Archive Wizard. 

If you have multiple prior years’ data in your current company database, the Archive Oldest Fiscal Year process will remove the data from the oldest prior year and move it into a separate database. If you have more than one year of data that you want to archive, perform the Archive Oldest Fiscal Year process, after signing into Database Administration for Sage 100 Contractor, once for each fiscal year you wish to archive.

How do I archive my Oldest Fiscal Year?

How to Archive Oldest Payroll Year

New Feature: 5-3-8 Close Payroll Year

Year-end processes for Sage 100 Contractor SQL