Year Closing

The year closing permits one to transfer the balances of all the accounts, computed at the end of a given year, toward the next yearly period.

N.B.: the current date has to be within in the yearly period corresponding to the year closing.

This function generates balance reversal transactions for all the accounts in the Opening Balance journal (code OPBL), which is automatically created.

The balances of the nominal accounts and the special accounts are not transferred.

The year closing function automatically creates a transaction which allocates the annual P&L balance to a specific account defined for profit or loss in the Opening Balance journal (code OPBL). These specific accounts has thus to be defined before the year closing.

It is possible to record transactions corresponding to a given year before realizing a year closing of the preceding year.

Furthermore, even if the year closing has been computed for a given year, it is still possible to modify some transactions. In this case, a new year closing should be launched after the changes are entered.