First, you need to create a new fiscal year:
GL Menu | 1. Master File Maintenance | 7. Fiscal Year Control
Enter the information as prompted and press [enter] to continue. Be sure the first few periods of the prior fiscal year are closed so that no data can be accidentally merged into the wrong fiscal year.
Second, you need to close the prior fiscal year to get the beginning balances rolled into the new fiscal year. This proceedure can be performed as often as necessary:
GL Menu | 7. Period Processing | 1. Close Fiscal Period
Close all of the periods by paging down to the periods and pressing [enter]. After all of the periods have been closed, choose option 2. Close Fiscal Year. Enter the fiscal year you want to close and press [enter]. If you have more entries to make into the prior year, open the period, post the entry, close the period, and close the fiscal year again.
