Fiscal periods and fiscal years in the French version
A fiscal year is typically divided into 12 monthly fiscal periods. In [!INCLUDE[prod_short](../../includes/prod_short.md)], you can have two fiscal years open at the same time. You can't create a third fiscal year if there are two fiscal years open.
To close a fiscal year, you must close the accounting periods within that year.
You can only reopen a closed accounting period if the period falls within an open fiscal year. Learn more in Close Years. You can't reopen a closed fiscal year.
Close fiscal periods and fiscal years
After a fiscal year is complete, you must close the accounting periods within that fiscal year. This is to ensure that general ledger entries aren't posted for that period. Learn more in Fiscally Close Accounting Periods.
A fiscal year can be closed if all of the following criteria are met:
The posting dates on the User Setup page and the General Ledger Setup page don't fall within the year that you're closing. Learn more in Specify Posting Periods and Understanding the General Ledger and the COA.
The fiscal year is closed using the Close Year function on the Accounting Periods page. Learn more in Closing Years and Periods.
All the unposted journal lines for the year are posted or deleted.
All closing entries are up to date.
When you close a fiscal period, the earliest open fiscal period is closed. The Allow Posting From field on the General Ledger Setup page is updated with the start date for the next open period, if the existing date in this field isn't already a later date. If the Allow Posting To field on the General Ledger Setup page is within the closed period, then the value in the Allow Posting To field is updated with the end date for the first open fiscal period. Learn more in Understanding the General Ledger and the COA.
At the end of the year, you must do the following actions:
- Close the fiscal year using the Close Year function.
- Generate a year-end closing entry.
- Post the year-end closing entry, along with the offset equity account entries.
- Close the fiscal year using the Fiscally Close Year function.