This presentation covers Sage X3 year-end planning including: period-end close process including a checklist for your GL, financial data extraction and reporting, and compliance.

1. 2017
Year-End Planning for Sage X3
To Join the Audio: 1-650-479-3207
Passcode: 663-621-027
Ed Halloran, Solution Architect
RKL eSolutions, LLC
December 11th, 2017
FOCUSED. ON YOU.

2. To edit footer choose Insert > Header & Footer and Apply to All 2
• General Ledger Postings – Check List before closing
• Run Managerial Reports - Agree to General Ledger Balance
• Closing Last Fiscal Period and Year
• Run Financial Data Extraction or SEI Reports
• Other Considerations
• 1099 Generation and Reporting
• Updating Default Parameters
• Q&A
AGENDA

3. To edit footer choose Insert > Header & Footer and Apply to All 3
• Posting of operational transactions. Examples include:
All shipments have been invoiced
All sales invoices/credit memos posted (FUNCFMINV, BPCVAL)
All purchase invoices/credit memos posted (FUNPIH, BPSVAL)
All payments posted (REMBAN)
Physical inventory completed
All subcontracting costs are calculated and posted
Stock accounting Interface posted with no errors (FUNSTOACC)
WIP accounting interface posted with no errors (FUNWIPACC)
Year-End Check List

4. To edit footer choose Insert > Header & Footer and Apply to All 4
• Perform financial accounting processes including:
Enter accrual entries & generate their reversal
Generate recurring entries
Enter depreciation entries if not using FAS
Confirm inter-company accounts balance
Invoices to receive – accrue non-inventory receipts
Match RNI account
Generate multi-currency revaluation entries
Consider dimensional allocations
Delete/Make actual any simulated journal entries
Year-End Check List

5. To edit footer choose Insert > Header & Footer and Apply to All 5
• Close Fixed Assets:
Confirm all periods are set to actual
Confirm all journal entries are posted
Monitor the context to determine what needs corrected
Perform period & year end close
• Periods cannot be reopened
• Must be closed before GL is closed
• Reconcile bank accounts
• No automatic reconciliation yet
Year-End Check List

6. To edit footer choose Insert > Header & Footer and Apply to All 6
• Restrict postings by module
• ACHXXXDAT - Purchase invoices
• CPTXXXDAT - Journal & batch entries
• TRSXXXDAT - Customer BP invoices,
supplier BP invoices, entry of payments,
entry of open item statements, entry of
expenses lines and automatic payment
proposal
• VENXXXDAT - Sales invoices
• Or restrict by Document Type date
range or Journal Code date range
Year-End Check List

7. To edit footer choose Insert > Header & Footer and Apply to All 7
• NA-BPATB Customer Aging
• NA-BPATB Supplier Aging
• NA-TRLBAL Trial Balance
• Matching detail for RNI account
• Requestor ACH040 can be used with limitations
• Fixed Asset Listing
• Stock Valuation Report
• ZWIP requestor
• RKL custom requestor to tie out WIP by work order
Managerial Reports

8. To edit footer choose Insert > Header & Footer and Apply to All 8
• Final Validation of Journal Entries
Run Final Validation for all remaining unposted 2017
entries (CPTVAL)
Review the Pre-closing report for blocking errors
(CLOPER)
• Close the Period
Stock close
Period close (final month will notify on screen)
• Make sure January 2018 is open!
Closing the Year

9. To edit footer choose Insert > Header & Footer and Apply to All 9
Closing the Year
• All users to log out of X3
• Turn off accounting tasks
• NEWPR is the journal and document type used to create the closing
entries
• Confirm miscellaneous accounts on the chart of accounts
• Line 11 should be retained earnings
• Other lines not used but may need values to avoid errors from generating

10. To edit footer choose Insert > Header & Footer and Apply to All 10
Closing the Year
• Journal entries are created closing P&L accounts to retained earnings
and establishing opening balances for Balance Sheet accounts
• If not ready to close year, Year End Simulation can be used
• No entry but rolls balance forward
• Years can be re-opened to enter any audit adjustments

11. To edit footer choose Insert > Header & Footer and Apply to All 11
• Use SEI or FDE to
verify report balances
at year end
• Confirm roll forward of
ending balances to
beginning balances for
balance sheet
accounts
Financial Reporting Considerations

12. To edit footer choose Insert > Header & Footer and Apply to All 12
• Budgets – New budget codes can be created or 2018 balances can be imported
to existing budgets.
• Operational Budgets – Carry-over budgets should be calculated if necessary.
• Update standard costs
• System will use old standard until 2018 standard is created
• Copy current raw material standard to simulated
• Update raw material simulated standards
• Perform BOM cost rollup on finished good simulated costs
• Copy simulated 2018 cost to 2018 standard costs
Other Considerations…

13. To edit footer choose Insert > Header & Footer and Apply to All 13
• 1099 functionality is found under
“Declarations”
• Run the “Calculate 1099 payments”
• Payment amounts can be edited
using “1099 payment summary”
• Print 1099 & 1096 forms.
• Electronic filing not supported
Printing 1099s

14. To edit footer choose Insert > Header & Footer and Apply to All 14
• Change the date ranges after the new year
begins
• These dates default to reports and inquiries
• Can be set by user too
Default Date Parameters

15. Any Questions
RKL eSolutions helpdesk is a great place to ask questions. Contact us:
support@rklesolutions.com
Gia Lane
Customer Account Manager – East Coast
Glane@rklesolutions.com
717-735-1492
Mike Share
Customer Account Manager – West Coast
mshare@rklesolutions.com
717-735-9131