Sage 300 Period End Checklist (Free, PDF/Excel)

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16 critical items still open - these are the highest-risk gaps.

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Before you start

Confirm all users have posted or deleted their open batchesCRITICALBack up the company databaseCRITICALConfirm the period and fiscal calendar are set correctlyCollect bank statements and supplier statementsTell users when transaction entry stops

Accounts Payable

All vendor invoices and credit notes entered for the periodCRITICALPosted all invoice, payment and adjustment batchesCRITICALRun day end processing for the subledgerReviewed received-not-invoiced accruals with purchasingAP aging subtotal agrees to the GL control accountCRITICALReviewed unapplied payments and debit notes

Accounts Receivable

All invoices, receipts and adjustments postedCRITICALRun day end processing for the subledgerUnapplied cash and deposits reviewedBad debt and write-off decisions recordedAR aging total agrees to the GL control accountCRITICALRevaluation run for foreign currency balances where used

Inventory, order entry and purchasing

Shipments invoiced or accruedCRITICALReceipts matched or accruedCRITICALInventory adjustments and transfers postedCycle counts or physical count variances postedRun day end processing for inventory, order entry and purchase ordersCRITICALInventory valuation report agrees to the GL inventory accountsCRITICALCosts reviewed for negative quantities and unusual variances

Bank and general ledger

Bank reconciliations completed for every accountCRITICALRecurring and allocation entries processedAccruals, prepaids and depreciation entries postedIntercompany balances agreed and eliminatedCurrency revaluation entries posted where applicableAll GL batches posted and none left in errorCRITICALTrial balance reviewed against prior month and budgetCRITICAL

Close and report

Management reviewed variance explanationsPeriod locked in each moduleCRITICALFinancial statements produced and archivedChecklist signed and filedCRITICALLessons from this close logged for next month

Do not lock the period until every critical item is done. Keep the signed list with the month end file.

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How to use the checklist

Print or export a fresh copy each period and work top to bottom. Assign each group to an owner, tick items as they are completed and note the date. The critical items are the ones that most often cause an out-of-balance condition or force a reopening of the period. If your company uses only some modules, strike out the groups you do not use and keep the remainder as your own standard.

Why the order matters

Subledgers feed the general ledger, and day end processing in the operational modules creates the GL transactions that you then reconcile. Inventory depends on receipts and shipments being invoiced or accrued, which depend on purchasing and order entry. Reconcile each subledger to its control account before touching the ledger close, because differences found late are much harder to trace. Lock the period only after the trial balance review.

Post and run day end in the subledgers first
Reconcile each subledger to its control account
Accrue received-not-invoiced and shipped-not-invoiced
Lock periods last

Common mistakes

Frequent issues are leaving batches unposted, forgetting day end processing in one module, entering back-dated transactions after the period is locked, and letting inventory and GL drift because adjustments were posted in the wrong period. Another is skipping bank reconciliation until the following month. Confirm exact screen names and options in your version of Sage 300, since menus differ between releases.

Frequently Asked Questions

What is day end processing in Sage 300?

It is the process in several modules, such as accounts receivable, accounts payable and inventory control, that creates the general ledger transactions from posted subledger activity. If it is skipped, the subledger and the GL will not agree.

Can I post to a closed period?

Sage 300 lets you control which fiscal periods accept posting by module. Posting to a locked period is blocked, and reopening a period should be a controlled decision with approval, since it changes reported results.

How often should I back up before close?

Take a verified backup before you start the close and another before any step that changes many records, such as a year-end process. A backup you have never restored is not proof that you can recover.

Is the year end checklist different?

Year end adds steps such as closing the fiscal year, opening the new year, archiving or clearing history according to your policy, and confirming retained earnings. Use this list for the final period, then add your year-end procedures from the Sage documentation.

If your close still depends on spreadsheets pulled from Sage 300, we can help automate the reconciliation reports and variance checks.

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Sage 300 Period End Checklist