Year-end closing
Calculates the result for the year, generates the closing entries and locks the fiscal year.
Overview
The year-end closing calculates the fiscal year result (income minus expenses), generates the closing entries for income and expense accounts, carries the result to the year-result account (129 in the Spanish PGC) and marks the year as closed. Once the year is closed, Frihet rejects creating, editing or deleting invoices, expenses and journal entries dated within that year. It follows the fiscal year start in your tax profile, including when it is not 1 January.
You can click Reverse closing to undo a closing and reopen the year. On the same tab you set the Opening balances of the year, with CSV import.
Quick start
- Go to Finance → Accounting and open the Year-End Closing tab.
- Choose the Fiscal year and click Preview to see income, expenses, result and the entries that will be generated.
- Click Execute closing and confirm.