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<ManualTopic ID="/baanerp/tf/onlinemanual/000481" xml:lang="en">
   <Header>
      <Title>Year end processing</Title>
      <Keyword type="header" order="d1e1951835">
         <Level1>Year end processing</Level1>
      </Keyword>
   </Header>
   <ConceptSection>
      <Paragraph>When you close the financial year, ERP Enterprise balances the profit
		and loss accounts and builds the opening balances of the balance sheet accounts
		for the new year. After you finally close the financial year, no financial
		transactions can be created or posted for the closed year.</Paragraph>
      <Paragraph>Before you can close the financial year, you must process all
		integration transactions and recurring transactions, finalize all transactions,
		and close all the periods except the last <GUIRef href="/baanerp/tf/gld/tfgld0107m000#tfgld007.sgld" role="manual">GLD</GUIRef> period. The last <GUIRef href="/baanerp/tf/gld/tfgld0107m000#tfgld007.sgld" role="manual">GLD</GUIRef> period is typically the correction period. The <GUIRef href="/baanerp/tf/gld/tfgld0107m000#tfgld007.sgld" role="manual">GLD</GUIRef> period must remain open because ERP Enterprise must create the
		entries to balance rounding differences and to balance the profit and loss
		accounts.</Paragraph>
      <Paragraph>Run the <GUIRef href="/baanerp/tf/gld/tfgld0107m000" role="session">Period Status (tfgld0107m000)</GUIRef> session to set the periods for the individual modules
		to <GUIRef href="/baanerp/tf/domains/gld.sper#closed" role="option">Closed</GUIRef>. For more information, refer to <Link href="/baanerp/tf/onlinemanual/000014" role="manual">Using periods</Link>.</Paragraph>
   </ConceptSection>
   <GeneralSection>
      <ProcedureList>
         <ListTitle>To close the financial year:</ListTitle>
         <ListItemHead>Ensure the integrity of the financial data</ListItemHead>
         <ListItem>
            <Paragraph>This step is optional. However, for best results, run the <GUIRef href="/baanerp/tf/gld/tfgld3203m000" role="session">Rebuild Opening Balance/History from Transactions (tfgld3203m000)</GUIRef> session to ensure
			 that all the history transactions match with the finalized transactions. With
			 this session, you can rebuild the ledger history and the dimension history at
			 the same time.</Paragraph>
            <Paragraph>During the rebuilding process, no financial transactions
			 must be entered or generated in the current financial company. Otherwise, the
			 rebuild may fail, or the result can be unreliable.</Paragraph>
         </ListItem>
         <ListItemHead>Close the year provisionally</ListItemHead>
         <ListItem>
            <Paragraph>This step is optional and is used for information only. You
			 can run the <GUIRef href="/baanerp/tf/gld/tfgld6201m000" role="session">Close Year - Provisional (tfgld6201m000)</GUIRef> session to simulate the closing of
			 the year. Without creating any transactions or postings, ERP Enterprise accumulates the
			 amounts of all profit and loss accounts and builds provisional opening balances
			 for all balance sheet accounts in the new fiscal year. You can view the new
			 opening balances in the general ledger.</Paragraph>
            <Paragraph>You can perform
			 provisional year closing for the current fiscal year, which ERP Enterprise displays in the <GUIRef href="/baanerp/tf/gld/tfgld0503m000" role="session">Company Parameters (tfgld0503m000)</GUIRef> session. After provisional year closing, you can
			 continue to process transactions for the current fiscal year. You can still
			 post corrections to a period in the year, and you can repeat the provisional
			 year closing as required.</Paragraph>
         </ListItem>
         <ListItemHead>Clear the profit and loss accounts</ListItemHead>
         <ListItem>
            <Paragraph>Run the <GUIRef href="/baanerp/tf/gld/tfgld6202m000" role="session">Automatic Balancing of Profit and Loss Accounts (tfgld6202m000)</GUIRef> session to balance the
			 profit and loss accounts. Several <Link href="/baanerp/tf/onlinemanual/000482" role="manual" Update="No">balancing methods</Link> are available.</Paragraph>
         </ListItem>
         <ListItemHead>Correct the rounding (Optional)</ListItemHead>
         <ListItem>
            <Paragraph>If the <GUIRef href="/baanerp/tf/gld/tfgld6201m000" role="session">Close Year - Provisional (tfgld6201m000)</GUIRef> session or the <GUIRef href="/baanerp/tf/gld/tfgld6202m000" role="session">Automatic Balancing of Profit and Loss Accounts (tfgld6202m000)</GUIRef> session result in an error
			 message such as <Emphasis>Total profit and loss balance is not yet zero for a
			 currency</Emphasis> or <Emphasis>Balance ledger account does not tally for a
			 currency</Emphasis>, you must <Link href="/baanerp/tf/onlinemanual/000199" role="manual" Update="No">correct the rounding</Link> of the amounts.</Paragraph>
            <ProcedureList>
               <ListIntro>After you complete corrections:</ListIntro>
               <ListItem>Run the <GUIRef href="/baanerp/tf/gld/tfgld3203m000" role="session">Rebuild Opening Balance/History from Transactions (tfgld3203m000)</GUIRef> session.</ListItem>
               <ListItem>Rerun <GUIRef href="/baanerp/tf/gld/tfgld6201m000" role="session">Close Year - Provisional (tfgld6201m000)</GUIRef> or <GUIRef href="/baanerp/tf/gld/tfgld6202m000" role="session">Automatic Balancing of Profit and Loss Accounts (tfgld6202m000)</GUIRef> If rerunning the latter
				session results in a new batch, finalize this batch before you
				proceed.</ListItem>
            </ProcedureList>
         </ListItem>
         <ListItemHead>Finally close the financial periods</ListItemHead>
         <ListItem>
            <Paragraph>Run the <GUIRef href="/baanerp/tf/gld/tfgld1206m000" role="session">Close Periods (tfgld1206m000)</GUIRef> session to set the period status of all <GUIRef href="/baanerp/tf/gld/tfgld0107m000#tfgld007.sgld" role="manual">GLD</GUIRef> periods to <GUIRef href="/baanerp/tf/domains/gld.sper#finally.closed" role="option">Finally Closed</GUIRef> for all period types.</Paragraph>
         </ListItem>
         <ListItemHead>Close the year</ListItemHead>
         <ListItem>
            <Paragraph>Run the <GUIRef href="/baanerp/tf/gld/tfgld6203m000" role="session">Close Year (tfgld6203m000)</GUIRef> session to finally close the current year and to
			 create opening balances for the new year. This will result in a new batch,
			 which must be finalized in the next year.</Paragraph>
            <Paragraph>If you finally close
			 the current year, you can no longer process any transactions for the year. The
			 opening balances created by the provisional year closing are overwritten.</Paragraph>
         </ListItem>
         <ListItemHead>Archive the history data</ListItemHead>
         <ListItem>
            <Paragraph>In the <GUIRef href="/baanerp/tf/gld/tfgld0101s000#tfgld003.sdat" role="manual">Store Data for X Years</GUIRef> field of the <GUIRef href="/baanerp/tf/gld/tfgld0101s000" role="session">Group Company Parameters (tfgld0101s000)</GUIRef> session, you specify the number of years
			 that the financial details must be retained in the current financial company.
			 If the number of years has expired, you can run the <GUIRef href="/baanerp/tf/gld/tfgld6206m000" role="session">Archive / Delete Period Totals (tfgld6206m000)</GUIRef> session to archive and/or delete the
			 financial data of a financial year. ERP Enterprise does not automatically perform this action.</Paragraph>
         </ListItem>
      </ProcedureList>
   </GeneralSection>
   <RelatedTopics>
      <SectionTitle>Related topics</SectionTitle>
      <RelTopic>
         <Link href="/baanerp/tf/onlinemanual/000482" role="manual">Balancing methods for Profit and Loss accounts</Link>
      </RelTopic>
      <RelTopic>
         <Link href="/baanerp/tf/onlinemanual/000199" role="manual">To correct the rounding</Link>
      </RelTopic>
   </RelatedTopics>
</ManualTopic>