Financial Reports - Fiscal Year Close Report

The Fiscal Year Close Report shows the open and close requests for your business for a specific fiscal year.

What is closing out a fiscal year?

Closing out a fiscal year is the act of creating year-end accounting entries for the selected fiscal year. This will essentially close your business' financials for that year and carry over balances from the previous year to the next. This is done to create the proper balances in all of the corresponding financial reports. Closing a fiscal year will prevent any additional accounting entries to be made for that year, so as to preserve its financial integrity.

How do I close out a fiscal year?

You can get to the fiscal year close page (Close Books) by taking the following steps:

  • Click on the Advanced Tools tab, then [Journal]
    • This will take you to the Journal Entry page
      • From here you can get to the 'Close Books' related link at the top of this page
    • This will take you to the Close Books page
      • From here you can view previous fiscal years that have been closed out, and either close out an open year or reopen a closed year.

Fiscal Year Close Report

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Close Books

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