SAP has extensive documentation for performing a year end close.  The documentation is specific to the version of SAP Business One that you are running, so be sure to only read the document that relates to your version.

The instructions are quite extensive and deal with process reviews, audits, and general housekeeping prior to physically closing the fiscal year.  The function in SAP Business One that actually zeros out the P&L accounts and books them to retained earnings is near the end of the document under the Period-End Closing section.  This function can be run at any time.  It does not have to be run before you start processing in your new year.  We recommend backing up your database just prior to running this function.  We have never seen an issue with it, but it is still better to be safe than sorry.

For links to the documentation, visit our website and the year-end close blog post at

http://www.aetherconsulting.com/blog/article/930/sap-business-one-how-to-perform-a-year-end-close/

If you need help getting through the close process, please contact us at sales@aetherconsulting.com.

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