You need to execute the Period End process at the end of each period to move the previous period's transaction data to the next period. By executing this process it closes all the previous period's transaction.

2. How do I move the data to the next Fiscal year in QCommission?

Commission lets you move all your company data and calendar details to the next fiscal year by using the Year end process. You need to execute the Period end process, prior to this process, to move your data to the next fiscal year.