No.  

You can restore from backup if you need to re-open the year before last.  

i.e. if the new fiscal year ends in 2015, 2014 just became 'last year' and 2013 is permanently closed.

If you need to enter more transactions in 2014, just change the '[  ] do not allow transactions before ____ ' in Setup,  or uncheck it.  

The normal workflow in the newer versions of Simply Accounting / Sage 50, is to open the new fiscal year on the day it starts.  In the DOS versions from last century, you might have wanted to keep two files running until you 'really closed' the last year, or used some other contortionate work-around.

No.  

You can restore from backup if you need to re-open the year before last.  

i.e. if the new fiscal year ends in 2015, 2014 just became 'last year' and 2013 is permanently closed.

If you need to enter more transactions in 2014, just change the '[  ] do not allow transactions before ____ ' in Setup,  or uncheck it.  

The normal workflow in the newer versions of Simply Accounting / Sage 50, is to open the new fiscal year on the day it starts.  In the DOS versions from last century, you might have wanted to keep two files running until you 'really closed' the last year, or used some other contortionate work-around.