Year End Closing

Year End Closing

To close a year go to Ledger -> Journal Entries -> Close Year. A special Journal Entry will made to close the balances in the Revenue and Expense Accounts to the Retained Earnings Account.

> Prior Year Closings will be displayed at the bottom of the screen.

> You can still access a closed year and make adjustments. You do not need to re-open a year to post to it.

> Once you have posted new journals you will need to re-close the year.

> When you re-close a year the previous closings will be canceled.