Sage 100 Newsletter

Year End 2023

In This Issue

SAGE 100 2023 YEAR IN REVIEW

As we look back at the year that was, let’s quickly recap some of the new features, enhancements, and other changes to Sage 100 during 2023.

New Releases, New Features

Here are some key new features added in Sage 100 Version 2023 (plus two subsequent updates):

  • The Sage 100 Desktop added new tools that quickly get you back to tasks you’ve used recently, plus the on-screen tips on task screens are even more detailed and helpful.
  • Sensitive data such as social security numbers, vendor tax IDs, and ACH banking and routing information is now masked for even better data security.
  • Wide-ranging changes in Inventory Management improves lot and serial number tracking, warehouse management, and inventory requirements planning.
  • Enhancements in Production Management streamline labor entry, work ticket management, and the materials purchasing process.

Download a copy of the What’s New Guide for more detail on all new features and enhancements added in Sage 100 2023 as well as updates 2023.1 and 2023.2.

 

New Features in Sage CRM

For customers using Sage CRM, the tools and features that give you a more complete view of your customers, companies and sales opportunities got even better with the release of Sage CRM 2023. A new Company Narrative Tab uses artificial intelligence to analyze sales, customer service, and communications data and presents it as a short, insightful executive summary for each company. Other useful enhancements make it easier to import and add email to CRM records, customize the Sage CRM login screen, open multiple read-only browser tabs with CRM data, and much more.

The Road Ahead for Sage 100

Sage recently published a roadmap outlining expected new features and enhancements planned for Sage 100 2024 and 2025. Some of the highlights include:

  • Full product search capability, including auto-complete
  • Improved audit trail for customers and vendors
  • Warehouse delete/merge capabilities
  • Additional integration options via the Sage Network

Note: these are projected features and timelines which may change at any time.

Be sure to Contact Us with any questions or to request help with year end closing.

YEAR END TIPS AND RESOURCES

4 THINGS TO NOTE BEFORE CLOSING THE BOOKS

At a high level, here are 4 things to consider as you begin closing the books on 2023 and start fresh in the new year.

1. Backup Your Data

Executing a complete backup of your database is one of the most important things you can do before starting any closing process. You should also test the backup to ensure it was performed successfully and the data is readable.

If you make a mistake, the only way to “reverse” year end processing is to restore data from a backup.

2. Follow the Module Closing Order

A year end process in one module often writes data to another related module. Therefore, closing modules in the proper sequence is important in order to avoid unexpected results or damage to your data.

For more detail and guidance, refer to the Module Closing article on page 3 of this newsletter.

3. Follow the Module Closing Checklists

Step-by-step checklists are available for most modules. These checklists provide guidance on the sequence of detailed tasks and procedures that should be performed within each module.

Detailed checklists for each module can be accessed right from within the Sage 100 Help system.

4. Preview The Process

A video is posted on the Sage Customer Support and Training channel on YouTube that walks you through an overview of period and year-end processes. It provides a nice refresher before starting your live closing process.

CREATING A COPY COMPANY FOR ARCHIVE / BACKUP

At year end, it’s useful to create an archive company using the Copy Company feature. This provides a readily accessible copy (and backup) of the current year’s data even after you perform year end processing in your live company.

To make a copy company, go to:
Library Master > Main Menu > Company Maintenance

  1. Create a new company code and company name (description) that’s easy to identify and distinguish from the live/active company that you’re copying.
  2. Click the Copy button and enter the Company Code of your current year live (or “Source”) company.
  3. Select the modules from the source company you want copied over to your archive company. For a complete archive/backup, you’ll want to copy all modules. Click Proceed. Once the process is finished, click Accept.

Note: For good measure, you might run a trial balance in each module and do a quick spot check to make sure all the data that came over is balanced and accurate.

Video: How to Back Up Data

Head over to YouTube to watch a recorded demonstration of the Copy Company process in action.

YEAR END TIPS AND RESOURCES

MODULE CLOSING

Keeping Things In Order

A year end process in one module often writes data to another module.  Therefore, the sequence in which you close your Sage 100 modules is important in order to avoid the risk of damaging your data.

Important: Remember to back up your data before starting module closing procedures. Refer to the article on page 2 of this newsletter for guidance.

  1. B/M – Bill of Materials*
  2. W/O – Work Order*
  3. P/M – Production Management
  4. B/C – Bar Code
  5. P/O – Purchase Order
  6. S/O – Sales Order
  7. I/M – Inventory Management
  8. M/P – Material Requirements Planning (MRP)*
  9. P/R – Payroll (Quarter-end processing)
  10. A/R – Accounts Receivable
  11. A/P – Accounts Payable
  12. J/C – Job Cost
  13. B/R – Bank Reconciliation
  14. G/L – General Ledger

*Note: While there is no formal closing procedure in the Bill of Materials, Work Order, or MRP modules, all transactions in those modules should be posted before starting any closing procedures in the modules that follow them (i.e. Post transactions in Work Order before closing Purchase Order, Sales Order, and Inventory).

Remember, this is just a general guideline. If you own modules that aren’t listed above or you run any third party add-on products, please contact us to discuss specific closing procedures for your company.

Get the Full Details

YEAR END PROCESSING

4 Tips for Success

Here are just a few tips to keep in mind as you begin year end processing in Sage 100.

1. General Ledger Closing – While it’s a good idea to close modules in a timely fashion, the General Ledger can remain open for as long as you need while awaiting final processing (or audit adjustments) in other modules. A GL that’s still open for 2023 will NOT prevent you from entering transactions for the new year.

2. Payroll Planning – Even if your company is on a fiscal year, you may need to close out payroll at the end of the calendar year (particularly if you’re running an older version of Sage 100 Payroll.)

NOTE: This does NOT apply to the newer Payroll 2.0 module which allows two calendar years to be open so you don’t have to run year-end tax reports and W-2’s before processing payroll for 2024 (as was required with the old/legacy payroll module).

3. Check Your Version Number – Closing procedures can vary depending on which version of Sage 100 you’re running. Here are steps to identify both your version number and service pack:

Select Help > About Sage 100

4. Master Console – Once you’re ready to close, you need to make sure all users are out of the system. That’s where the Master Console comes in handy. This utility provides a snapshot of all users currently logged into Sage 100, the workstation being used, what programs/tasks they’re using, and more. You can also broadcast a message to all users or even shut them down remotely.

To launch the Master Console:
Select File > Master Console

YEAR END TIPS AND RESOURCES

YEAR END FAQ’S

For General Ledger & Reporting

Here are answers to a handful of the most Frequently-Asked Questions (FAQs) regarding General Ledger and Reporting when it comes to year end processing.

Can I print financial statements for the NEXT fiscal year PRIOR to performing year end processing?

YES. In the Fiscal Year field within the applicable report window, simply select the fiscal year to print.

DO NOT manually change the fiscal year in General Ledger Options in order to print financial statements for the next fiscal year.

After year end processing, can I delete accounts that will no longer be used in the new fiscal year and still run comparison statements?

Information about prior fiscal years is stored by account number. These account numbers must be retained for as long as you require comparisons.

Instead of deleting, you can set the status of an account to Inactive which prevents future postings but still retains the account number for comparisons. On the Main Tab in Account Maintenance, select Inactive in the Status field
and click Accept.

Can I open a closed fiscal year to make General Ledger postings/adjustments?

YES. If you retained detail history for a prior fiscal year by entering the ‘Years to Retain General Ledger History’ field in GL Options, you can reopen and post to a closed fiscal year.

TO POST TO A CLOSED FISCAL YEAR:

  1. Select General Ledger Setup menu > GL Options
  2. On the Main tab, in the Current Fiscal Year field, select
    the past fiscal year to reopen
  3. In the Current Period field, select the accounting period to post to and click Accept
  1. In General Journal Entry or Transaction Journal Entry, enter the transaction to the reopened fiscal year and period and update the journal entry.
  2. Reprint year end reports when you’re finished
  3. Go back to General Ledger Options Main tab and select the current year in the Current Fiscal Year field, and the current period in the Current Period field. Click Accept.

You’ve just re-opened the closed fiscal year, posted a journal entry, and reverted back (in step 6) to the current fiscal period and year.

Note: Closed fiscal years can only be reopened in the General Ledger module.

Can I process year end in General Ledger before I’m
finished with the other modules?

NO. General Ledger should be the very last module you close. Refer to the Module Closing Order article earlier in this newsletter for details on the proper closing sequence.

TIP: How to Correct an Out of Balance General Ledger

There are a variety of reasons that your general ledger can get out of balance. In the video below, you’ll learn how to discover and correct the out-of-balance situation including instructions for making one-sided journal entries.

YEAR END TIPS AND RESOURCES

AFFORDABLE CARE ACT (ACA) REPORTING & PROCESSING

Sage offers an ACA Resource Center to help you understand the provisions as well as track and report the necessary data in Sage 100 in order to remain in compliance.Here are some popular ACA resources to consider reviewing.

HOW TO SET UP ACA TRACKING IN SAGE 100

Step-by-step instructions for setting up Sage 100 for ACA tracking and reporting.

Review Setup Procedure / Watch the Video

HOW DO I GENERATE THE REQUIRED FORMS?

Instructions for generating and printing required ACA forms in Sage 100 including 1094 and 1095.

How to Generate ACA Forms / Watch the Video

HOW TO REPORT EMPLOYER-SPONSORED HEALTHCARE COVERAGE ON THE W2 USING SAGE 100

Setting up Sage 100 Payroll to track and report the cost of coverage under an employer-sponsored group health plan.

Review Instructions / Watch the Video

Consult Your Accountant

These resources and articles are designed to provide general guidance on using Sage 100 for ACA compliance.

Be sure to consult with your accountant or tax advisor for legal advice or guidance that’s personalized to your company-specific requirements.

SAGE 100 YEAR END CENTER

Sage has created a Year End Center that provides valuable
resources to guide you through a smooth year end closing
process in Sage 100 including:

  • Year End Tips and Checklists
  • Video Tutorials and How-to Articles
  • Live Chat With Tech Support
  • Tax Forms, Payroll, and Report Guidance

Take advantage of this free and valuable resource!

SAGE 100 SUPPORTED VERSIONS

What versions of Sage 100 are currently supported? What is the “end of life” date for the version I’m running now? Those questions are answered in the table and notes below:

Things to Note:
Retired versions have limited to no phone support which currently includes Sage 100 2020 and earlier. Customers using Sage 100 2017 with payroll will need to upgrade to a supported version. Sage 100 Version 2017 & earlier will not support additional fields that are necessary to accurately calculate federal withholding taxes as a result of changes implemented in 2020.

SAGE 100 TIPS AND TRICKS

How to Setup Paperless Office to Save/Print Year-End Reports

Here are step by step instructions for setting up Paperless Office to save your period and year end reports in PDF format so they’re searchable and easy to retrieve later.

Setup Paperless Office

  1. Open Paperless Office, Setup, Paperless Office Options.
  2. In the ‘Enable Electronic Delivery and PDF Storage’ section, select all options.
  3. In the ‘Load Date on Initial Viewer Access’ section, select all options.
  4. In the ‘Keep Only the Last Copy’ section, select Period End Reports.
  5. Click Accept.

Setup Period End Report Maintenance

The following steps are applicable for all modules.

  1. Open Paperless Office and navigate to Setup > Period
    End Report Maintenance.
  2. Select applicable Company Code and module from look
    ups (Note: you can select any module or ALL modules).
  3. In the PDF Directory, enter the full path of an existing folder to use for storing the period-end report in PDF format, or click ‘Browse’ to choose a folder.
  4. Select whether to password-protect PDF documents which requires entry of a password to view the PDF after it’s created (Prompt = displays a message requiring you to define a password each time the PDF document is created, Yes = always protect the PDF document with the password entered in the Password field, and No = create the PDF document without password protection).
  1. If you chose the Yes option, type the password that will be required to view the PDF documents created.
  2. Confirm and re-type the password entered.
  3. Click Accept.

Paperless Office Report Maintenance

If you have the appropriate security access, you can also add public favorites. Public favorites are available to all users who can access them based on their security setup.

  1. Open Paperless Office and navigate to Setup > Period End Report Maintenance.
  2. Select applicable Company Code and module.
  3. In the Document field, select the report to define PDF settings for. This field displays all reports for the selected company and module. Select All Documents to define PDF settings for all reports in the selected company and module.

From here, the remaining steps are identical to steps 3 – 7 in the previous Period End Report Maintenance section above.

Refer to this support article for full details including setup instructions for payroll registers and reports.