Fiscal Years
Close a year to zero revenue & expense accounts and post net income to Retained Earnings. Re-open any time to add missing records.
No fiscal years defined. Create one to enable year-end closing.
Recommended workflow for historical data:
Post all records for a year before closing it. If you discover missing records after closing, click Re-open — this reverses the closing entry so you can add them, then close again cleanly.
Post all records for a year before closing it. If you discover missing records after closing, click Re-open — this reverses the closing entry so you can add them, then close again cleanly.