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Here are the steps on how to Close Fiscal Year in i21:

1. From General Ledger Maintenance, click Fiscal Year.
2. When the screen opens, choose the fiscal year you want to close. You may use the navigation buttons at the bottom right of the screen to navigate from one fiscal year to another.
   
3. Click Close Year buttonClick Close Year button.
   
   
   1. If there are transactions made for the selected year and are not yet posted, message will prompt displaying all the unposted transactions. Closing of the fiscal year will not continue.
      
   2. If all transactions in the selected year are already posted, Recap screen  Recap screen will open showing what accounts will be affected. This is where Revenue and Expense accounts where Revenue and Expense accounts are zeroed out and are transferred into theRetained Earnings accountthe Retained Earnings account.
      
4. Click Post button Click Post button to start closing the fiscal year.
5. The message that the Fiscal Year has been successfully closed will prompt. Click OK to Click OK to close the message as well as the Recap screen.
   
6. Now, the fiscal year Status field will show 'Close'. All periods as well as the status of all the periods for that fiscal year will also show a status ‘Close’‘Close’.
   
7. Closed fiscal year on i21 will also marked as closed in Legacy fiscal year.