Period 12 Closing Month - This activates the Year end Close Process

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No.  Closing period 12 will activate the Year End Close process. When the current period in GL is set to period 12 and you choose the End of Period option, Orion automatically assumes you want to close the year and will start the process to zero out your revenue and expense accounts and create the offsetting entry to Retained Earnings.

See the article on Orion End of Year Procedures.

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