Fiscal Year and Period

-Create Fiscal year and period with closing period and Adjustment period

-Period and year can be locked 

Year End closing

-Select the year to close 

-Select the Retained earning account and generate the entries

-System will clear all those income statement account and provide two entries, one is for closing entry fall in the closing period and the other one will be the opening entry for period 1, both entry are draft status

Fiscal report 

Balance Sheet , Income Statement, Trail Balance