Fiscal Year Closing - IRS Software

Fiscal Year Closing

General Ledger > Fiscal Year Closing

  1. Fiscal Year Close is performed to finalize a snap shot of transactional activity for an entire fiscal year.
  2. It is important to ensure that all financial activity for the year is accurately recorded in your accounts prior to closing the accounts.
  3. Once Perform a Fiscal Year Closing, Account will proceed to new Financial Year.
  4. Before the confirmation to perform the year-end closing process, the user(s) are allowed to Test Run to have the overview of the Accounts.

To Perform the Fiscal Year Closing

  1. 1. Choose General Ledger > Fiscal Year Closing.
  2. 2. Click Confirm and system will prompt out confirmation message.
  3. 3. Click Yes or No.
  4. 4. Journal Entry will create a Journal Entry Document after operate Fiscal Year Process.

 

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