Year end close

The closing of the year transfers the balances of the ledger accounts of the balance type and the result of the profit and loss type is calculated and transferred to the summary account. This is done through the so-called periode codes (financial layers). They have three levels: opening , ongoing and closing. All ledger transactions, as well as purchases, sales, etc. are registered to the Ongoing layer. The other two are used only during the closing of the year. The opening layer includes the transfer of the balance of the balance type accounts, the closing layer includes all of them.

After the closing action of the year, the system will automatically block the periods and will no longer allow you to register financial transactions for the corresponding period.