Yes, you do have the option in the setup to "lock" the general ledger based on a user selected date (i.e., Year end, etc..)
- Go to Setup from the home ribbon
- Double click the Location Settings from the left panel
- Select General Ledger tab
- Go to "Lock Transaction" section
- Click on the drop down arrow to change from Not Set to select a Date in the calendar prompt.
- Click Save from the ribbon