The following rules apply to closing an account:
• You must select an account closed indicator.
• Account expiration date must be the current date or earlier
• A continuation account number must be provided.
• The account must meet all the following criteria:
o expires on or before the current date
o has no budget balance
o has no pending ledger entries
o has no pending labor entries
o has no open encumbrances
o has no asset, liability, or fund balances other than the fund balance object code defined for this account's chart and the process of closing income and expense into fund balance must take the fund balance to zero.
• Only a system supervisor user can reopen a closed account.