End of Period
The end of period is a very simple procedure, which closes the month/year and moves all balances forward to the next period. Based on the current period and end of year fields in the company setup table., the end of period knows if it has to run end of year or end of month.
Just select the companies for which you would like to close the period and press the Run end of period button. That is it! The program will update the period for the selected companies.
All accounting data entry screens, should default to the current period.