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How to Update Opening Balances using the Year End Simulation function in Sage X3

In most cases a company will need to run financial reports for the current year before they have closed the previous year. During a fiscal year close new period entries are created which create the opening balances for the current year. The Year End Simulation can be used to simulate the fiscal year end close and allows the opening balances to display on current financial reports.



Before running Year-End Simulation, check the following prerequisites:

  • Accounts (Setup > Financials > Account classes)
    • Verify the ‘Carry forward’ is set to Yes for the appropriate account classes.
1 - Account classes
  • Periods (Common Data > GL Accounting tables > Fiscal Periods)
    • Confirm that the period for the current year is open
2- Periods
  • Users (Development > Utilities > Verifications > User Monitor
    • All users must be logged off of Sage X3. The accounting tasks, EDI and ADC monitors must also be stopped since they are considered a user.
To run the Year End Simulation go to Financials > Utilities > Year End Simulation
  • You should deselect “All Companies” and run just for each company at a time.
  • Select the current year that needs to reflect the opening balances.
    • For example if I am closing 2018 I will enter 2019 (5) for the Fiscal Year.
  • General Balance and Analytic Balances must be selected.
3 -Year end simulation
  • Click Ok
  • A log will display when the year-end simulation has been completed

4- log reading

The opening balances should now display on Financial Reports such as NA-TRLBAL and BALGRP.

Tagged With: Sage X3, How-To
LeeAnn Segan

Written by LeeAnn Segan

LeeAnn Segan is an ERP Support Specialist with RKL eSolutions LLP. She supports Sage 500 ERP and Sage X3. LeeAnn specializes in the financial and distribution modules. Her background includes managing distribution and warehousing for ecommerce based companies. When not working, LeeAnn enjoys working out, volunteering with groups that support special needs, and spending time at the beach with family and friends.

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