Hi All! Remember that annoying blog from last year: How many shopping days ‘til Xmas? How many days left to prep for year end?  That’s the blog where you were reminded how the year was slipping away and you really should be preparing for year end. I’m that annoying blogger back here to bring up that scary topic (it is Halloween month)- YEAR END!

Where to start? Take a deep breath and let me help you get started:

• First, look over your notes from last year’s close. What were your problem areas? What workpapers do you need to create? What did the auditors want last year?
• Do you need to contact your Business Partner to generate new reports or inquires? Don't wait too long because available partner time may be scant at year-end
• Are your bank reconciliations up-to-date? Tracking cash in your bank recs leads us into Agings.
• Have you reviewed your A/P and A/R Agings? Are payments and invoices matched? Don't forget to check out Accounting tasks under Usage, Batch server to ensure transactions aren't hung up there. The Matching field should be zero as should the Journals on hold field.

• Here are some previous Sage X3 support blogs that might come in handy:

How many shopping days ‘til Xmas? How many days left to prep for year end? (can’t mention it enough times) – Lists several tasks to perform and resources to use to help create a smooth year-end close..

Procrastinator's Emergency Guide to Year End – Tips on some common year-end errors and how to set up a new year. 

Introducing: Multi-company period closing (FUNPMCCL)! – New this year, this function will come in handy if you have several companies to close and/or if you are behind in closing periods.  It will close all the periods that don’t have errors and give you a Cloper type log for those that still have issues.

Saving time with Multi-company period opening (TRTPERMC) – Another new function, this can be used to open the periods for the coming year. Remember, the first period of 2021 must be open so you can close out 2020.

Don’t worry if you get carried away with Multi-company period opening (TRTPERMC). There is Open too many fiscal periods? – which will help you sort that out.

When you are doing those workpapers, if it looks like some journals are missing, check out Where are my journal entries?

We will discuss 1099s in November which is closer to the patch release date. But, don't wait for the patch to do a review of your vendors. Are vendor invoices that are supposed to be 1099able coded as such? Are you vendor default 1099 codes set correctly?

Hope this helps at least get you started thinking about year-end preparation.

Take care and stay safe!