Once the fiscal year is closed it cannot be opened again, and the periods in the fiscal year cannot be changed.

Hi all!

Before close the income statement accounts, you have to close the fiscal year from the Financial Management menu / Periodic Activities / Fiscal Year / Accounting Periods:

When you select the "Close Year" process from the "Accounting Periods" page you receive the following message:

This function closes the fiscal year from 01/01/12 to 31/12/12. Once the fiscal year is closed it cannot be opened again, and the periods in the fiscal year cannot be changed.

Do you want to close the fiscal year?

What does it mean?
Well, it only means that, if you confirm the message, the year cannot be re-opened and the accounting periods cannot be changed, but if you need to post G/L entries in the closed period you can do it.

Hope be useful!
See you soon!