Forum Post: Is this the easiest way to do year end

I use 100 ERP gl. ap, ap, ic and oe. the fiscal year is Dec. 31. In Dec. 31, 2013 I just do couple steps to open the new year: 1. Do day end on IC 2. post all batches ftom ap, ar and gl 3. go to common service, fiscal calendar to click new year 4. go to GL periodic processing to create new year after that, all 2013 revenue and expenses will move to retain earning and Jan 1, 2014 both revenue and expenses are zero. Meanwhile, sales can print sales invoice which date is Jan 2, 2014 or after and I still can do Dec, 2013 transaction for AR, AP, IC, GL even physical inventory. Do you think these processing are correct?   Thanks