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Performing a Multiple Year End Close

If you want to work on your next year's client file but the current year client file is not yet complete, you can perform a Multiple Year End Close. Performing a Multiple Year End Close after the initial Year End Close will update the prior year balance in the client file.

Procedure

Perform a Year End Close on the previous year's file.
This will create the next year's file.
When the previous year's file is complete, update the new file by performing a Year End Close again on the previous year's file.
In the Year End Close and Roll Forward dialog, browse to the existing file that was created in Step 1.
Complete the Year End Close process.

Results

You will be able to work in your next year's file and roll the changes forward after the current year is complete.

Notes

You must select the current file as the destination file.
If you are working in a SmartSync enabled client file, this process is not available. For more information, see Multiple Year End Close and SmartSync.
The options to Include in Next Year's File are important in a Multiple Year End Close. These options are used to determine what content is to be included in the next year's file. In a Multiple Year End Close, these options are used to determine what content should be retained in the next year's file.