Clossing Process

[kamran.it]

I want to close my Fiscal Year like we close in General Ledger [Accounting Software (AIS)]

we have completed Entries from Jan 2008 to Jun 2008
Now I want that closing Balances of all the item will be shifted in New Fiscal Year Jul 2008 to Dec 2008 as opening balances and move old data to any where.

What is the best way to do this.

Best regards