Period-end processing in General Ledger consists of printing reports that disclose and analyze the results of operations in a previous period, and then wiping the slate clean to start gathering information in the new period. In Denali, you can keep open up to five fiscal years before the software prompts you to close a year. See General Ledger Reports for an introduction to the reports in General Ledger.

Keep in mind that some elements in the software related to taxes need to be taken care of on January 1st to ensure the numbers are accurate. For example, you will need to accumulate 1099 information for tax purposes and this accumulator will need to be cleared on January 1st to make sure the amounts it shows are accurate.

If you want to archive your entire organization with a new organization name, you can use the Copy Organization Utility.