What happens when I close the year in Cash Management?

• For instructions to close the year in CM, refer to article 21628 "How do I close the year in Cash Management?"
• If the year was closed in error, refer to article ID 36120 "I closed the year in Cash Management by mistake".

When you close the year (Tasks, Close Year), Cash Management does the following:

• Advances the current Year ending date one year under File, Company Settings, CM Settings.
• Moves the amount in the Year to date interest box to the Last year to date interest box on each bank account record (Setup, Bank Accounts, Interest).
• Moves the amount in the Next year to date interest box to the Year to date interest box on each bank account record (Setup, Bank Accounts, Interest).

The interest boxes on the bank account record are associated with the date. After you close the year, you can still make prior year adjustments to interest amounts. The adjustments are added to or subtracted from the Last year to date box as appropriate.