Sage 300 ERP (formerly Accpac) Year-End Tips

In this post we present a list of the steps and sequence of year-end activities in Sage 300 ERP (formerly Sage ERP Accpac) modules. Be sure to finish Periodic Processing in all ledgers first, then perform year-end tasks in the following order. If you would like a more hands on look watch our On-Demand Webinar: Sage 300 ERP Year End Closing Tips

Order Entry And Purchase Order Modules

• Clear unneeded transaction history.
• Clear unneeded statistics and sales history.

Project And Job Costing Modules

• Clear transactions for closed contracts that you no longer need to keep.

Inventory Control Module

• Perform an inventory count.
• Post a reconciliation worksheet to adjust for any variances found in the inventory count.
• Clear statistics, expired contract prices, and transaction history that you do not need to retain for drill-down purposes.

Accounts Receivable And Accounts Payable Modules

• Clear unneeded sales tax and purchase tax tracking information.
• Clear unneeded history and statistics.
• Run Year End to reset batch numbers, clear activity statistics, recurring charge amounts, invoices paid and Days To Pay counter.
• Print the Customer and Vendor Lists and customer and vendor statistics reports to verify the transfer of data to the previous fiscal year.

General Ledger

• Run Create New Year to transfer balances in the income and expense accounts to retained earnings and enter opening balances for the new year.
• Print and clear the Batch Status report and the posting journal generated when you created the new year.
• Using Period End Maintenance, delete prior-year fiscal sets, and reset batch numbers.

Locking Fiscal Periods

The ability to lock fiscal periods was added in the 6.0 release. Keep the following tips in mind when locking fiscal periods:

1. Lock operations modules such as Order Entry and Inventory Control before financial modules (GL, AP, AR, etc.).
2. When locking Bank Services, also lock modules that integrate directly with it including AR, AP, and Payroll.
3. Create and post all outstanding GL batches for a fiscal period before you lock it for GL.

2013 Payroll Tax Update

The January 1, 2013 Payroll Tax Update, frequently referred to as the year-end PUP is expected to be available December 21, 2012 for download from the Sage Customer portal. Due to the legislative tendency for last minute changes, Sage also will provide a second update on January 31, 2013. Note: you must have a current Sage Business Care plan to access and download the update.

Supported Versions
For the January 2013 tax updates, Sage will support Sage 300 ERP Version 5.5 and higher. However, support for Version 5.5 ends on January 31, 2013. If you are running that version, please call us to plan your upgrade to a supported version.

Payroll Update Procedure
To produce government reports and to process payroll correctly, you must install and activate the current tax update. If you are upgrading from a previous version, make sure you are activating the latest version of the tax update. Steps 1-4 are the same for both U.S. and Canadian Payroll.

1. Download the latest tax update from the customer portal.
2. Backup your database: the recommended method of performing a backup is to use the Database Dump Tool. For more information regarding how to use the tool, refer to Solution ID 210-22285 in the Knowledge Base.
3. Install the Tax Update: refer to Solution ID 210-22278 in the Knowledge Base.
4. Print the reports required by statute.

U.S. and Canadian Payroll Forms
Be sure to process all outstanding payroll runs for 2012 before printing IRS Form W-2s and Canadian T4s. Form W-2s and T4 can be printed at any time, even after 2013 payroll has been processed.

Please call us if you have any questions or if you need assistance with Sage 300 ERP (Accpac) year-end procedures.