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This routine makes the opening and closing entries of the fiscal year in asset and liability accounts, on user specified corresponding dates, when two types of entries are possible:

  • Entries on a given date, such as the closing of a fiscal year. The asset and liability account balances are zeroed;
  • Entries on a specified date, such as the opening of a new fiscal year. The asset and liability account balances are restored.


Procedures

  1. In Closing Entry, the process is displayed with information, questions and process log options.
  2. Fill out the parameters according to the field help instructions.
  3. In Information, confirm execution of process.
  4. A selection of Branches to process and periods to close is displayed.