Accounting Close Year

In Accounting, at the top, click Lock.

There is no close out process for the accounting system since the asset, liability, and equity account balances automatically carry over to the next year and do not need to be zeroed out. Additionally, the income and expense accounts, only show the accumulation since the beginning of the calendar year.

While there is not an end of year close out process, there is an option to add a Lock date to prevent users from changing accounting entries before a date. The accounting reports below may also be useful to see end of year totals.

Lock Accounting Entries

Use the Lock feature to prevent users from editing Accounting Transactions entered before a specific date. Locking the entries also ensures data on end of year reports does not change.

Enter the lock date, then click OK. All entries made prior to the entered date will be locked. To edit locked entries, the date must be temporarily removed by a Security Admin user.

Reports

For accounting reports to run at the end of the year, see Accounting Reports.