Close

Select from "Period" or "Period and Year" to designate the period to be closed.

 

Delete History

Checking the "Delete History" check box will allow deletion of entries from the entry history file based upon the year option selected below.

 

▪Prior to the current year - Deletes all history entries prior to the current year (last year).

 

▪Prior to the beginning of the closing period - Deletes all history entries prior to the beginning of the closing period.

 

▪Prior to the beginning of last year - Deletes all history entries prior to the beginning of last year.

 

 

AP Cut Off Date

The date value entered in this field represents the beginning date for future AP transactions. entrée will not allow users to create any new AP transaction on or before the date entered in this field after the GL closing process completes.

 

Accounts

▪Net Income Account

This is the account to which General Ledger posts the net profit or loss from the last period of the year. If you do not know the account number, you can click the search button or press the F5 key to display the GL Account Search screen. Since only equity accounts are allowed, the search screen will display only equity accounts.

 

▪Retained Earnings Account

This is the account to which General Ledger posts the total year-to-date net income. If you do not know the account number, you can click the search button or press the F5 key to display the GL Account Search screen. Since only equity accounts are allowed, the search screen will display only equity accounts. The current balance of all accounts (including inactive and summary accounts) is summed, and you will be warned if there is an imbalance (the sum does not equal zero). If General Ledger is unbalanced, you will not be able to close the year.

 

Cancel Button

Clicking the "Cancel" button will close the Closing window, and return you to the Main Menu.

 

OK Button

Clicking the "OK" button will start the GL closing process.