Once statements have been successfully run, it is necessary to close the period. Some facilities forget to do this until several days, or weeks later. This will completely confuse your clients, and bookkeeping system.
You must close immediately after printing the statements.
The reason is quite simple. When you close, the system removes all completed activity, noted by * on the statement. If some transactions are completed after the statement, but before closing, they will be removed, and the client will have no record of the action.
To close, select the Receipt - Close option from the main menu.
The system first expects the billing cycle, and then the closing date. It will only process transactions with a date on, or before, the one you enter. Be sure you match the billing cycle, and date, you provided for the statements.
You may also enter an interest rate to charge. Even if you assessed interest on the statements, you do not need to add it to the account. Some people will place interest on the statement because it stimulates quick payment by the client, who sends a check without the interest. In such cases, interest posted to the account would then have to be reversed. Interest is only charged on overdue balances, and never on current items.
When you select the 
button, the system will then proceed to process all accounts, update their balances and aging, and clear completed transactions to history. No further action is required on the operators part. The remaining boxes on the display show progress, and account numbers, as the work takes place.
When performing a period closing, after preparing statements, accounts with zero balances may have the billing cycle turned off, eliminating them from processing when the next period is prepared. The system will ask 'Do you wish to remove the cycle for accounts with 0 balance ?' Answer Yes to remove billing cycles on each account with a final balance of $ 0.00.
Remember, a closing only works on the billing cycle specified. It is important to run a closing on each billing cycle.