Step by step
- Open Accounting > Financial Years.
- The top line shows the Financial Year Start Month, the Account Start Date and Closed Up To (the last locked day).
- Each row is one year with From Date, To Date and Status: Running (the current year), Open (an ended year that is not closed) or Closed.
- Total Sale, Total Purchase, Gross Profit and Net Profit of the open years are worked out after the page loads. A closed year shows the figures saved when it was closed.
- To lock a year press Close Year in its row, write a note if you like and confirm.
- To unlock the last closed year press Reopen and confirm. Close it again when your corrections are done.
- Closed By, Closed On and Note show who closed the year and when. Excel and Print export the list.
Good to know
- A year can be closed only after its last day, and the older years must be closed first. Only the last closed year can be reopened.
- Check your reports before closing. After closing, every sale, purchase, voucher or other entry dated in that year is refused.
- Closing posts no ledger entry; the reports carry the balances into the next year.
- The start month and the account start date are set in General Settings > Business Settings.
- Close Year and Reopen need the Close Financial Year and Reopen Financial Year permissions.
- A branch of a chain shop uses the financial years of its main shop.