Year-End Close Checklist for Sage 100

Year-end close in Sage 100 builds on the same discipline as monthly close, with additional steps specific to the close of the fiscal year. Here's a practical checklist.

1. Complete a Physical Inventory Count (or Reconcile Cycle Counts)

Year-end is the most common time for a full physical inventory count, with adjustments posted before closing inventory for the year. If cycle counting is used throughout the year, reconcile cumulative results against the general ledger.

2. Close Modules in the Correct Sequence

Sage 100 modules generally need to be closed in a specific order — typically subsidiary modules (AP, AR, Inventory, Payroll) before General Ledger. Closing out of sequence can create reconciliation issues that are time-consuming to unwind.

3. Reconcile Subledgers to the General Ledger

Before closing, confirm AR, AP, and inventory subledger totals match their corresponding GL control accounts. Differences found before year-end close are far easier to resolve than after.

4. Review and Post Fixed Asset Depreciation

If using Sage 100's Fixed Assets module (or an integrated add-on), confirm depreciation has been calculated and posted for the full year before closing.

5. Prepare 1099 Data

Verify vendor 1099 eligibility flags and accumulated amounts are accurate before year-end, since 1099 forms are generated from this data early in the new year.

6. Back Up Before Closing Each Module

Module close in Sage 100 is generally not reversible without a restore. A backup taken immediately before closing each module provides a recovery point if an issue is discovered afterward.

7. Plan the Close Around Business Activity

If possible, avoid scheduling year-end close activities during a period of high transaction volume — give the accounting team focused time for the additional reconciliation work year-end requires.

For ongoing month-end close optimization beyond year-end specifically, see our article on reducing month-end close from 10 days to 2.

Related Services

This topic connects directly to our core service areas: Sage 100 Support, Reporting & Analytics, and Month-End Close Guide. If you're working through a similar challenge, contact us for a free consultation.