11. Closing the Fiscal Year in General Ledger

Overview

Closing the final month of your fiscal year closes the year in Vista. This procedure is the same for every month, including June.

Where: GL → Programs → GL Fiscal Years, then GL Month End Close

1 – Create the new fiscal year

In GL → Programs → GL Fiscal Years, enter the Fiscal Year Ending date (for example, 12/27) and the Beginning Month (for example, 01/27). Click Save and Close.

2 – Close the final month

In GL → Programs → GL Month End Close, enter the Close Through Month (for example, 12/26) for Subledgers and the General Ledger, then click Close Check to review for issues like open batches.

3 – Run the Beginning Balance Update

After the month is closed, run GL → Programs → GL Beg Balance Update with the Initialize Fiscal Year Ending set to the end of your new fiscal year (for example, 12/27). This moves profits to Retained Earnings and rolls other balances forward.

If Close Check fails

If you see "The Month is not ready to close. Check items below and take appropriate actions", see GL Month End Close: Troubleshooting Close Check Errors.

Closing the Fiscal Year in General Ledger (Trimble source article) →