Closing a year end

Before you close a year end, you must close the asset period.
  1. Select Close Processing > Close Year.
  2. Select Book or Book Group.
  3. Select Company or Company Group.
  4. Specify this information:
    Calendar Update
    Select a calendar update option:
    • Select Extend Current Year to extend the calendar for the previous book into the next year. If your asset calendar requires specific dates, then you must create a calendar for next year before you run asset year end close. Manually creating the calendar for the next year prevents the year end close process from automatically assigning dates to the next year's calendar.
    • Select Require Future if all of the calenders for next year exist. The close process edits the book calendar to ensure that the future calendar is defined before closing the year. If this option is not selected and the new year calendar does not exist, the new calendar is automatically created based on the current year calendar.
  5. In the Report Distribution section, select a distribution group and export type for Asset Year End Close Report.
  6. Click Submit.