A financial year cannot be closed off if there is one or more things to resolve in either the financial settings, the chart of accounts, or report layouts.
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Check your Retained Earnings and Current Earnings GL Accounts here. Edit and save the GL Accounts to ensure they have the required settings.
Check that your Profit & Loss and Balance Sheet Layouts are valid. Go to Financials > General Ledger > More Options > Reports.
If you have any warning signs, edit your Layouts to correct for any recently added or ungrouped GL codes.
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Check your notifications for any other settings required.