Closing a year out means you can no longer see the year in an active status and make changes to the year. Sage 50 is not Quickbooks. If you are on a calendar year and you move from December to January, all of your Income statement accounts automatically close to retained earnings. You don't have to do anything to make this happen. If your Income, cost of sales and expense type accounts did not go to zero on January 1, you do have an issue and need to run some tests to make these accounts close.
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