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How to Close A Financial Year ('Roll Over')
  • COBS Tech Support
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    Joined: Fri Sep 09, 2005 8:23 am

    How to Close A Financial Year ('Roll Over')

    by COBS Tech Support » Mon Dec 07, 2015 9:59 am

    Versions Prior to Release X:

    All users must close down their running copies of CAPITAL before you execute the following steps. The process will take several minutes to execute.

    There is no need for users running Release X or higher, to exit the software.

    1. Open the General Ledger area.
    2. From the menu select Toolbox|End of Year Close.
    3. Enter your retained earnings account code if it is not presented by default.
    4. Press Close Year.

    The system will now close the current financial year and create a new set of financials for the following year.
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