Invoice Close-Out
Close-Out Procedure
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It is customary that, after invoices have been printed and mailed, the accounts are Closed-Out to make them ready for the next billing cycle. The Close-Out does the following:

·Removes the current transactions (all those transactions printed on the invoice) and places them in the history file of transactions so that they will not appear on the next invoice.  
·Makes the five invoice category previous balances equal to their current balances.  
·Makes the new previous account balance date the same as the date of the printing of the invoice.  

We recommend that you Close-out accounts on the
same
day that you print invoices. We also strongly recommend that you perform a Backup before performing a Close-out since a Close-out is NOT reversible.

Regardless of the date when you perform a Close-out, the new previous account balance date will be adjusted as follows:

·If no invoices have ever been printed for an account, then the new previous balance date for that account will be the same as the date of the close-out.  
·If no transactions have been entered for an account since the last invoice was printed, then the new previous balance date will be the same as the date the last invoice was printed.  
·If transactions have been entered for an account after the last invoice was printed, then the new previous balance date will be the same as the Close-Out date. This of course is not the way to handle an account.  
 
It is good procedure to only Close-Out an account after an invoice for that account has been printed and before any new transactions have been posted.  
 
NOTE: If an invoice is printed right after a Close-Out, the invoice would have no transactions to list and the account summary at the bottom of the invoice would show the previous balances to be the same as the current balances.