Use the Opening transactionsform to transfer opening balances for each account to a new fiscal year.

1. Click General ledger> Periodic> Fiscal year close> Opening transactions to open the Opening transactionsform.

2. You can view the specific parameters for this process and can change them in the Parameters form.

3. Select an ending date. The oldest fiscal year in which the periods have been closed might be displayed.

4. If the Italy region/country key is selected and the Transaction date reference to competence datefield is selected in the General ledger parametersform, enter the posting date when the company gains knowledge of the transaction in the Transaction datefield.

5. For balance sheet accounts, select how to transfer the balances of ledger accounts.

   • Select Closing->Openingto transfer the balances automatically to the next fiscal year.

   • Select Resetto reset the balance accounts and manually enter the opening balances for the balance accounts in the Chart of accounts form.

6. For balance sheet accounts, select the account to transfer the year-end information to.

7. Enter a voucher number, if you selected the Voucher number must be filled inoption in the Parametersform.

8. Select the Print created transactionscheck box to print a report of the closing year transactions that are created.

9. Click the Dimensionstab to select a dimension for the profit and loss transactions.

10. Select the Close allcheck box to close the profit and loss transactions to the dimension codes for each dimension, based on what was posted for each transactions.