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 2020 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. On older versions of Sage 100 Payroll, all W-2’s and quarterly reports must be printed before payroll is closed in order to process the first payroll for 2021.
NOTE: This does NOT apply to the new 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 2021 (as was required with the old 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
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 Update
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:
|SAGE 100 (All Editions)||2020 (6.20) Payroll 2.x||2019 (6.10) Payroll 2.x||2018 (6.00) Payroll 2.x|
|Release Date||March 2020||April 2019||Oct 2017|
|End of Support (Retirement)||Release Date of Version 2023||Release Date of Version 2022||Release Date of Version 2021|
Due to changes that impact the 2020 payroll tax year, the IRS released a new Form W-4. Sage 100 Version 2017 & earlier will not support the additional fields necessary to correctly calculate federal withholding taxes.
Retired versions of Sage 100 have limited or no support and Sage is no longer making callback appointments or researching issues on retired products.