Now that we have checked the periods have been closed, we can begin the close year process.
1. Click on Close Year.
2. Select the appropriate company from the drop down box.
3. Ensure the appropriate Profit Account has been selected.
4. Press OK to begin the close year process.
5. You will be asked if various tasks have been completed. If you have completed them, or the task isn’t required to be completed (optional), press Yes to the message. If you wish to complete a certain task before closing the financial year, press No to return to Systems Maintenance.
6. Select the Printer for the Journal Update Report to print to.
7. Press OK to the message that appears to advise the Close Year has been completed successfully.
You will then need to Open New Periods for the new financial year. Refer to Open New periods for guidance on this process.