General Ledger Year Close

Menu Path: General Ledger Images\bluerarw.gif Posting and Period Controls Images\bluerarw.gif General Ledger Year Close

Purpose

Overview

Use General Ledger Year Close at the end of the accounting year to close the year.

Closing General Ledger Years

To close a general ledger year:

  1. If your company uses consolidation ledgers, verify the ledger ID for which you want to close a general ledger year is entered in the Ledger ID field.

  2. Click the Lookup button for the Year field, and select a year you want to close.

  3. Click the OK button in the ribbon. The Confirm G/L End of Year dialog box appears, and asks you to confirm whether you want to close the year.

  4. Click the Yes button. The software validates that all general ledger accounting periods for the year are closed.

Note You must use General Ledger Year Create to open a new general ledger year.

Note With proper security authorization, you can continue to post transactions against the year by selecting the year as the accounting year for your transaction. This applies to all areas of the system including accounts payable, accounts receivable, and the general ledger. The authorization for posting to prior years is defined in User Profile Maintenance.

Ribbon Home Tab Buttons

Button

Description

Exit

Click this button to close the General Ledger Year Close window.

OK

Click this button to close the selected general ledger accounting year. The software will notify you if there are any open periods for the year.

General Tab Fields and Buttons

Field or Button

Description

Year

Click the Lookup button to select the general ledger accounting year you want to close.

Note You cannot close a year if the year has any open periods.

Ledger ID

Enter a ledger ID for which you want to close a general ledger accounting year, or click the Lookup button to select a ledger ID.

Note This field is only available if at least one consolidation ledger is set up.