How to open / close fiscal year in sage X3

Sage X3 allows to multiple years and periods for transaction entering. Therefor it’s vital to maintain fiscal periods and years properly in the system.

Create a new Financial Year and open:

Prior to open a fiscal year you have to create the fiscal period desired to open. To create a new fiscal period in Sage X3 there are a few easy steps,

Open Fiscal year function (GESFIY) – Go to Common data > G/L accounting tables > Fiscal years
Select desired company and Ledger Type from left list
Click Fiscal Year button then select the year you want to create and click Ok. You can create more than one year at same time.

Create and Open a New Fiscal Year And Open Fiscal Periods

You can enter description and change the end date of a fiscal period and system will change the start date of next fiscal period accordingly.

After you create a financial period you can open the period by clicking the opening button in the right top.

You can use same option to reopen any closed fiscal year.

Opening a Fiscal period:

To open a fiscal period in Sage X3 , steps as follows.

Open Fiscal year function (GESFIY) – Go to Common data > G/L accounting tables > Fiscal years
Select Company, Ledger Type and Fiscal Year
Click Opening button
Select (Yes/No) desired period to open and click Ok.

Special Notes: Stock Status column defines whether the period is open to any stock movement such as adjustments, receipts and shipments.

Closing a Fiscal period:

You can close a financial period by clicking closing button in the Fiscal year function (GESFIY). Select the periods you want to close and click Ok.

How to create and open a new fiscal year and open fiscal periods in Sage X3

You can close period one after the other. The system allows to close a fiscal year only after close all the periods associated with the fiscal year.

Re-open period:

You can re-open a closed period by using Reopen Period function.

This article covers only open and close fiscal periods and the yearend process will be discussed separately.

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