Closing Accounts
Closing accounts is the process of resetting account balances - like revenues and expenses - to zero at the end of a fiscal period. This prepares your books for the next period and ensures that only current activity is reflected in your financial reports.
From this page, you can:
Closing Accounts Grid
The Closing Accounts grid includes the following columns:
Fund To Close: The fund account code to close
GL To Close: The general ledger account code to close
Close Into: The account code where the closed balance will be transferred
Copy Closing Assignments
You can replicate a closing assignment made for one fund to as many other funds as desired. Simply select the fund to copy from and the funds to copy to. Once you select Copy, the assignments will be generated automatically.
Delete Closing Assignments
Before deleting a record, ensure you’ve selected the correct record you want to remove from the system. Deletion is permanent and cannot be undone.
