How to Create a New Year in Sage 300 General Ledger Steps: Open Common Services > Fiscal Calendar, and then:Create a fiscal calendar for the next year.Ensure that the closing period for the current year is not locked.Open General Ledger > G/L Periodic Processing > Create New Year.Click Proceed.Each transaction detail is assigned the source code GL-CL, and is posted to the closing period. Sage 300 Request Support