When should the Holding current year open option be checked off?

• When should the holding current year open option be checked off?

• Before running Close Current Fiscal Year, should GL Settings have Holding current year open option selected?

• General Ledger Settings

• Close Current Fiscal Year

• Holding current year open

• The 'Hold current year open' option in General Ledger Settings should be checked off when the site begins entering transactions into next year.

• It should remain checked when the site closes the year.

After closing the current year and opening the new year the holding current year open option will no longer be checked.