What happens when you advance the fiscal year?

Sage 100 Contractor does not require you to close your books at the end of the fiscal year.

When you advance the fiscal year (from period 12 of the current year to period 1 of the next fiscal year), Sage 100 Contractor audits your accounting records to verify that valid, balanced transactions support the account balances. If no errors are present, Sage 100 Contractor advances the accounting period to period 1 of the next fiscal year. Periods 2-12 of the new fiscal year become available.

If you are on period 12 of your current fiscal year, you can begin entering transactions for period 1 of the new fiscal year by selecting Period 1 from the Posting Period window or by changing the company period in 1-6 Change Period.