4.4 How to do End of Year Closing

1. 1. Click on Accounting

   

2. 2. Click on Configuration

   

3. 3. Click on Settings

   

4. 4. Type "fiscal"

   

5. 5. Click on Fiscal Year…

   

6. 6. Uncheck Fiscal Years

   

7. 7. Click on Fiscal Years

   

8. 8. In the event of a fiscal year with less than 12 months. Click Fiscal years

   

9. 9. Click on New

   

10. 10. Select Start Date

    

11. 11. Select End Date

    

12. 12. Click on Save manually

    

Lock dates

1. 13. Click on Accounting

   

2. 14. Click on Lock Dates

   

3. 15. Click on Lock Journal Entries…

   You may lock Sales, Purchase or Tax return to prevent User's without overwriting right to add entries before the selected dates.
   
   Lock everyone prevents even authorized user with overwriting authority
   
   Hard lock prevents even the admin from key-in entries prior to the lock date

   

Closing year end Profit & loss

1. 16. Click on As of 12/04/2024…

   

2. 17. Click on -141,255.53

   

3. 18. Click on Accounting

   

4. 19. Click on Journal Entries

   

5. 20. Click on New

   

6. 21. Type "Profit for the year"

   

7. 22. Click on Accounting Date

   

8. 23. Click on Add a line

   

9. 24. Click on Account…

   

10. 25. Click on Post

    

11. 26. Click on Reporting

    

12. 27. Click on Balance Sheet

    

13. 28. Click on 0.00