To define a Net Asset Account to close to:
 
  1. In Configuration page, Funds, open the fund record
  2. Enter the appropriate fund closing account in the Net Assets Account field
  3. Click Save and Close

To close to more than one net asset account, refer to How to close to multiple net asset accounts in General Ledger 7.

Note: If you change the net asset account, and have hard closed Fiscal Years. The hard closed years will retain the old closing account(s)