This feature is available in Catalyst, Enterprise, and Ultimate editions.
At the end of each sprint/iteration, all open work is either closed, moved forward to another sprint, or placed back into the product backlog for future consideration. You should close or move all open workitems before you close a sprint Once that occurs for all projects that use the sprint, you will be able to close the current sprint and roll forward into the next one from this page provided you have the sufficient rights to do so.
The Close Sprint (or Close Iteration) page allows you to manage all necessary functions for closing out the current sprint and rolling forward into the next one.
Accessing the Close Sprint Page
From the main menu, select Sprint Review (or Iteration Review) > Close Sprint (or Close Iteration).
Closing Out Sprints
From the Close Sprint (or Close Iteration) page, you can:
To see a demonstration of these functions at work, click the Show Me video to the right.
Viewing Sprint/Iteration Summary Details
The Sprint Summary (or Iteration Summary) section displays at the top of the Close Sprint (or Close Iteration) page. It shows you the cumulative open (remaining) versus closed estimate for the selected sprint and team, as well as a reminder to close or move the remaining workitems before attempting to close the current sprint. The Next Iteration section to the far right provides a place where you can drag and drop backlog items to move them to the next sprint.