General Ledger Close Fiscal Year
Close Fiscal Year (continued)
To Close the current Fiscal Accounting Year, follow the instructions below.
1. Navigate to the General Ledger module from the Main Application Menu and select the Close Fiscal Year option.
2. The Close Fiscal Year form will be displayed. Verify each item on the list has been completed then select the box to the left of each item to confirm the task has been accomplished. Once all items have been checked, the Save button at the bottom of the form will be enabled. Press the Save button to execute the fiscal year closing process.
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3. The User will receive a confirmation message asking if you are sure you are ready to close the fiscal year. Press the Yes button to confirm. The application will clear out the income, expense, cost of goods sold accounts and update the Retained Earnings account.
Once the process has completed, a confirmation message will be displayed.
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