1. Run any closing processes specific to particular system (i.e. Payroll: Apply Labor, Job Cost: Post Jobs To/From Work in Process, and Fixed Asset: Calculate Depreciation).
2. Run the Trial Close of Accounting Period process from the Closing menu.
3. Check balances for correctness by printing the Trial Balance and Income and Balance Sheet reports, both run from Reports, General Ledger.
4. If any balances are in error, track down the problem using some or all of the following reports, all of which are accessed from Reports, General Ledger:
Closing Registers
Journal Registers
GL Posting Transactions
General Ledger
General Ledger with Detail
Make any adjustments that are necessary to correct any errors and rerun the Trial Close of Accounting Period process. Print new Trial Balance and Income and Balance Sheet reports.
5. Once your Trial Balance and Income and Balance Sheet reports are correct, run the Final Close of Accounting Period process from the Closing menu.