Closing or Opening an Financial Year

Closing Financial year is mandatory step when financial year is ended. This will ensure Opening Balances of subsequent financial year is initialized properly. This will also ensure no account changes can be done on a closed financial year. Our system automatically sends notification when Financial Year needs to be closed.

Steps to close the Financial Year

  • Select Accounts from Main Menu
  • Open menu from right top and select Close Financial Year
  • Select the financial year and click Ok
  • Similarly you can Re-Open a Financial year if closed by mistake or you want to make changes in previous financial years.

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