What the Year-End Process Does

1. Removes Previous-Year Totals

The oldest historical yearly totals are cleared to make room for the newly completed year.

2. Moves Current-Year Totals Into Previous-Year History

All current-year activity is transferred into the:

•Previous Year fields

This preserves historical comparison information for reports and analysis.

3. Creates New Beginning Balances

The current-year Ending Balance for each balance-sheet account becomes the new Beginning Balance for the next fiscal year.

This allows the accounting system to continue forward properly into the new year.

4. Resets Current-Year Monthly Totals

Monthly activity totals for the new fiscal year are reset to:

0.00

This prepares the system to accumulate activity for the new accounting year.

Important Step After Year-End Closing

⚠️ After running the Year-End utility:

always run:

•Ledger → Analysis

This verifies that:

•The ledger remains balanced

•Beginning balances transferred correctly

•No posting issues occurred during processing

Recommended Review

After Year-End processing, review:

•Beginning balances

•Balance Sheet totals

•Trial Balance reports

•Profit & Loss summaries

Make any necessary adjustments before continuing normal processing.

Important Perspective

Year-End Closing does not remove your accounting history.

MLS 2026 preserves:

•Prior-year totals

•Historical reporting information

•Comparative financial data

The process simply prepares the General Ledger for a clean new fiscal year while maintaining historical continuity.

Best Practices

•Perform a final Ledger Analysis before Year-End Closing

•Print year-end financial reports before processing

•Verify Beginning Balances after closing

•Make accountant adjustments before starting heavy new-year activity

•Keep backup copies before major year-end processing

Year End Closing