Use this procedure to:

  • Create postings in the accounting system when a fiscal year or posting period ends
  • Transfer previous G/L account balances from one fiscal year or period to another, for accounts defined as assets, liabilities, or equity

Here’s how:

1) From the SAP Business One Main Menu, choose: Administration > Utilities > Period-End Closing.

2) In the displayed Period End-Closing Selection Criteria Window choose the required criteria.

To define additional settings, choose Settings.

3) Choose Execute.

4) In the displayed Period-End Closing Window choose the required criteria.

5) To save the report as a draft, choose Save.

To display the draft, choose Previous Report in the Period-End Closing window.

6) To create the accounting postings for all the accounts that have been selected for closure, choose Execute.

Note: If you defined the projects for the selected accounts in the Chart of Accounts window, the project codes appear in the corresponding journal entry rows.