Year End Closing

To close a year go to Ledger -> Journal Entries -> Close Year. A special Journal Entry will made to close the balances in the Revenue and Expense accounts and move the net amount to the Retained Earnings account. The new journal entry will post to the first day of the next open year.

You can see a list of Prior Closings at the bottom of the page. You can delete prior closings by clicking the Delete This Close button.

Once a year is closed, no additional journal entries can be posted to the year.

If you need to close a single month, you can do so by going to Ledger -> Journal Entries -> Close Month. For month closings you can lock down activity by individual module. For example, you can block just AR activity for the month or just inventory activity, etc.