The period end closing report will open; enter in the relevant dates and remarks where applicable. All accounts will need to be approved before being executed, double click on the header to approve all. The user can either execute the run immediately or save it to be executed at a later date. Choose the appropriate option.
Closing the Period
Setting the current period only applies to one work center. This means that you can use the authorisation for period definition to control which users can define a period as current.
Administration → System Initialization → General Settings → Posting Periods You can protect previous periods against accidental postings:
• Active = No → Documents from sales can no longer be posted.
• Locked = Yes → No further journal entries can be made.
After the posting deadline for the sub ledgers, you need to ensure that postings are no longer performed in the old fiscal year. To do this, all users must set the first period of the new fiscal year as "current". The last period of the previous fiscal year can be set to "locked" and only opened for year-end postings in a very controlled manner.