How do I close a period or a fiscal year?

You will have locked posting into the finished period or year.

Before you start

You need the close permission. Post or delete every draft entry first; closing is refused while drafts exist.

Steps

1. Expand the year.
2. Press the close icon on a period, or on the year, and confirm.

What you will see

A closed year shows Closed; the year close posts one entry to retained earnings dated the last day.

If something goes wrong

• Closing cannot be undone and there is no reopen.
• Entries cannot be reversed into a closed period.
• Take a backup before closing a year you are unsure about.