Year End Close

You can close the year for a contact in the current fiscal year when the contact has accounts with activity and/or adjustments.

  1. With a project open, click the Settings tab.
  2. Select a period in the next fiscal year in the Current Period field to open the Year End Close screen.
  3. Choose to zero out existing account balances, or distribute net income to one or more equity accounts.
  4. Click the Close Year button to zero out account balances for income and expense accounts and carry over balances for all other accounts.


  • You can click the Edit Contact link in the Settings tab, or choose Setup > Clients > Periods tab to advance the period to the next fiscal year and open the Year End Close screen.
  • You can add equity accounts on the fly from this screen.
  • If you choose to open the contact in the previous fiscal year to make changes, and then return to the next fiscal year, you'll need to perform the Year-End Close process again.

Internal notes

Settings tab

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