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Thanks for reaching out to the Community forum, @proworxhi.
There are things that you need to do to close out the old year and prepare for the new one. These are the following:
To learn more about year end to do's, see below articles:
If there's anything else I can help you with in managing your account, let me know by commenting below. I'm here for you. Have a great day!
You or any other master admin will have to open the closed period in order to enter data. Then it can be closed again