GL Close Year window (Accounting product only)

GeneralLedgerCS > General Ledger > Period End Tasks menu > GL Close Year window (Accounting product only)

Closing the year in General Ledger posts the closing entries, rolls the fiscal calendar to the new year, and compacts the audit trail detail into balance forward amounts for each account.

Run this option after all entries and adjustments to the General Ledger have been made and year-end processing has been completed in all other modules.

The Controller module must be closed before you close the year.

Caution: Always back up your data prior to closing the year in General Ledger.

Retained Earnings Account

Type the account number or use the Lookup to select your company’s retained earnings account, to which the system will make entries during the closing process.