Open a new period

Good afternoon,

We are using Sage 300 Construction and Real Estate and the prior person was posting everything to a period that has past.  I have posted transactions to a period that is not showing open.  We have open 07/01/2019 to 06/30/2021 but have entered  transactions through November 20,2021    When we run the general ledger the transactions do not appear as we can not open the period we posted in.  How can I open the periods for July through Dec 2021 ?  Do I have to close 2019 first?  How many months can you have in current at one time?

Thank You in advance for your help,

Gail

  • You should close General Ledger each month thru General Ledger - Tasks - Close Current Period (or at year end Close Year) .  I would expect by now, you would be in a more current period.  I believe 6 months ahead of your current period will post.  Our normal procedure each month is to post entries, print financial statements, and verify balances, backup GL files, and close the month using Tasks - Close Current Period.  You should use General Ledger - GL Settings - Calendar and Fiscal Settings.  This will show you where you are on closing the month as the Current Month is the earliest month that is open.  All the other applications that require closing should be closed for the same period before your close General Ledger each month = General Ledger is the last application to close each period. 

    Where you have looked - Open / Close Fiscal Period is really there in case you find an error or some reason to post to a period that has already been closed.  You can reopen a closed period by unchecking the box, post the entries, reprint financial statements as necessary, and then recheck the box to return it to a closed status which will prevent older entries from being created and posted accidentally.  So once you check the Calendar and Fiscal Settings you may need to set Open / Close Fiscal Period to match. 

    Then you should begin normal procedures of post entries, print financials, verify balances, backup, and use Tasks - Close Current Period. (Do this over and over again until you are in your true current period which I'd guess as October or November 2021 according to where most users would be in their Calendar & Fiscal Settings.)

    Tasks-Close Current Period creates new buckets for future use where entries can post. Open/Close Fiscal period does not do this. 

    Hope this helps.  Good Luck!

  • in reply to Rhonda V

    Good morning Rhonda.  Thank you so much for your help.  

    Gail