I generally do load calcs based off actual load rather than the full bore panel rating. Adjusted as necessary for future expansion plus a little fudge factor. But to answer your question, I assume you're talking 240V single phase? Over here we wire barns with 480v 3 phase feeders. If that's the case, then 1/0 AL sounds right for a full 100 amps at 240v.
The thing about UG wire is cost of install vs. future upgrade cost vs. cost of wire. You can never get the labor or the wire back. Consider running oversized wire (like 4/0) if there's any chance of expansion or other buildings near it. If customer is willing to spend $100 extra now could save a lot later. Every situation different, not always sensible, but worth considering. We run into this all the time on small (and large) farms.