Follow a six-step process to close a fiscal year-end.

Check the fiscal years

1. Click Edit, General Ledger, Details, and then select the Balances tab.
2. Review the three fiscal year columns:
   • Last Year
   • This Year
   • Next Year
3. Verify that you’ve completed all transactions for Last Year.
4. Remember that Sage BusinessVision moves Last Year to history after year-end. You can't post to that year afterward.
5. After year-end:
   • This Year becomes Last Year
   • Next Year becomes This Year
   • Sage BusinessVision opens a new Next Year

Check Account Reconciliation

1. Click Utilities, and then Account Reconciliation.
2. Open each bank reconciliation.
3. Review the outstanding transactions.
4. Reconcile any transactions dated in the Last Year.
5. If you can't reconcile them, void and repost them in This Year.

Print reports before year-end

Print at least the following reports:

• Trial Balance for the year
• Balance Sheet for the year
• Detailed transaction listings for all accounts and periods
• Summary and detailed A/R aging reports
• Summary and detailed A/P aging reports
• Any other reports you need for reference

Verify Current Earnings and Retained Earnings

1. Verify that all users have logged out of the company.
2. Click Utilities, System Manager, and Special Accounts.
3. Verify that Current Earnings (CE) and Retained Earnings (RE) are correct.
4. Verify that CE and RE use different accounts.

If Current Earnings and Retained Earnings use the same account:

• Enter a general ledger journal entry to transfer CE to RE manually after the year-end process

If Current Earnings and Retained Earnings use different accounts:

• The program transfers CE to RE automatically during the year-end process

Back up the data

1. Back up Sage BusinessVision company data
2. Verify that you have a complete backup of the data folder.

Run fiscal year-end

1. Click Utilities, and then Year-End.
2. Click Yes when prompted with Are all users signed off the network?
3. Click Continue in the Year-End Close window.

 Verify the results

1. Click Edit, General Ledger, and Details.
2. Select the Balances tab.
3. Verify that the fiscal years shifted correctly.