Year End Close (AM195)

Run Year End Close (AM195) to close the year for all asset books for a company or company group. Only when all periods for a given book are closed through Period Close (AM190) or Short Year Final Period Close (AM192) can the year be closed. Once this program is run, it cannot be reversed. When the year is closed:

• The YTD, YTD override (if used), and LTD asset book depreciation balances by asset at year end are retained for historical reporting.
• The YTD, YTD override (if used) for all current asset books is set to zero to reflect the new year YTD balance.
• The year end account balances by account are retained for historical transaction reporting.
• Calendars are created for the new year by incrementing the year end date by one. If the month or day needs to change for any period end date, it needs to be manually changed.