6.7 Closing the Current Period

To select this function, choose Close Period from the Utility menu with your mouse. This command clears the transaction record and sets the closing balance of the old period to the opening balance of the new period, and sets the date range to that of the new period.

Figure 6.7.1 -- Close Period Dialog

Ensure that the period numbers and closing dates are properly entered in the Close Period dialog before selecting the button marked 'Close Period'. If you do not want to continue, select 'Cancel' instead. It is prudent to make a backup copy of the company file before completing this function.