Closing a fiscal year

The closing ends a fiscal year: GestiClub checks that the accounts are consistent, prepares the opening of the next fiscal year and locks the closed one. It records no closing entry: the closed fiscal year's income statement stays intact, and its profit or loss is taken over by the next fiscal year's opening entries.

Show the fiscal year to close, then click Fiscal years › Close Fiscal Year. Fiscal years are closed in order: the previous fiscal year must be closed before the next one.

1. 1The checklista green tick for each point in order: Fiscal year is open, Previous fiscal year (…) is closed when there is one, the Profit account, Retained earnings account (the Retained earnings of the Finance settings) and Opening account exist (with their number, as defined in the Finance settings), Balance sheet is balanced, meaning that the total of the debits equals that of the credits, and All accounts used exist in the chart of accounts. A point that is not in order carries a red cross and prevents closing. No hidden accounts used in entries is a warning: it flags a hidden account that has entries, without blocking.
2. 2The resultthe fiscal year's Result, as a Profit (green) or a Loss (red).
3. 3New fiscal year labelthe name of the next fiscal year, suggested from this one ("Fiscal year 2027-2028"). It starts the day after the end of the closed fiscal year and lasts one year.
4. 4Budget copyDo not copy, Copy structure (zero amounts) or Copy with amounts: the budget the next fiscal year receives.
5. 5Close and CancelClose starts the operation; the button stays greyed out until the checklist is in order.

If the next fiscal year already exists, because you opened it before the closing, the window offers neither a name nor a budget. Instead, it shows the Target fiscal year and the message "Opening entries for … will be recalculated.".

At the end, a summary gives the number of Opening entries, the number of Reversal entries and the New fiscal year. GestiClub:

• creates the next fiscal year if it does not exist: the chart of accounts is copied, the budgets according to your choice;
• records the opening entries in the next fiscal year: the balances of all the balance sheet accounts and the closed fiscal year's result. If the next fiscal year already existed, its opening entries are redone and the entries you had entered in it are renumbered after them;
• records the reversal entries: for each entry marked Reverse in next fiscal year, the reverse entry, on the first day of the next fiscal year (see "Recording an entry"). On cash basis, there are none;
• locks the fiscal year: it becomes read only (Fiscal year closed (read only)) and cannot be reopened.