The new Fiscal Year is not the the GL year.  You need to close GL.

As Jay said, creating the new year in Common Services is the first step, the second step is to do a backup, the third step is go to GL periodic processing and create new year.
Note that if you have already run Create New Year and need to post transactions to a prior year, you don't need to do anything, the system will automatically do the roll forward for those transactions.