Closing a reporting basis year

Verify that all periods for the year are in Limited Close status. You cannot close a year if periods have a status of Open or Open for Back Post.

Select Reporting Basis.
Select the reporting basis to close. You can see the status of the reporting basis years in the Basis Year Close panel.
In the Basis Year Close panel, select the year to close.
To close an open year, click Open or select Actions > Year End Close.
You can close a year by selecting the Changed Totals Only check box to process only what has changed since the last close was run.
The status changes to Close.
Note: Ending balances are affected if you have a Close To Account value specified on a posting account in the reporting chart defined on the reporting basis. The ending balance for that account will be closed to that account. See the Financials Setup and Administration Guide for information about modifying posting accounts within a chart.