About closing a cycle

Except for changing calendars at the end of the year, closing a cycle is an option that you can use to accrue open estimates and open call-in estimates and to post note prepayments. An open estimate is unreleased or released, not closed; an open call-in estimate is unreleased. Before you can close a cycle, you must create released estimates, call-in estimates, and note prepayments for the cycle. See Creating estimates, Creating first-time sales entries, and Creating note prepayments.