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

  1. Click > > > to open the form.

  2. You can view the specific parameters for this process and can change them in the 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 field is selected in the form, enter the posting date when the company gains knowledge of the transaction in the field.

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

    • Select to transfer the balances automatically to the next fiscal year.

    • Select to reset the balance accounts and manually enter the opening balances for the balance accounts in the 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 option in the form.

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

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

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