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In order to enter transactions for a particular year, the fiscal year (period) must be created. This will create the year ONLY. In order to open the new year, click the 
icon, and to make the year current, click on the 
icon. If the period has been closed and a transaction needs to be posted in that period, you can re-open the period. NOTE: We recommend re-closing the period after the transaction has been made.
| Note |
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Please do not create or open fiscal year periods prior to the year you migrated from Classic. Any year prior to the year you migrated is considered an archived period and should not be created in Inventory. |
Closing a Fiscal Year
It is not necessary to close a fiscal year before opening the next period. However, if you prefer to close a period after you have completed processing and balanced for the year, you can do so. A pop-up window will be displayed confirming that you want to close the fiscal year. Click 'Yes' to continue to close. An Inventory Report Bundle will be generated upon closing. The reports will be zipped and emailed to the email address(es) specified in Core>Configuration. NOTE: Configuration setup must be done in order for a report bundle to be emailed.
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