Closing the Financial Year

  1. Click on “Accounting” from the main menu.
  2. Click on “Accounting Settings”.
  3. Click on the card labeled “Financial Periods”.
  4. Click on the arrow to the right of the fiscal year you wish to close.
  5. Select “Close” from the menu.
  6. Set the “End Date” for the new fiscal year.
  7. Add the required “Description” for the new fiscal year.
  8. Click the “Save” button.
  • Notes:
    • There should be at least one fiscal year in the account. For more details, see the guide “Setting the fiscal year”.
    • The system closes the current year and opens another fiscal year in the financial years list.