Before you can close a financial year, it is necessary to set a number of settings correctly. For new administrations, this is automatically set correctly when creating the administration. If the settings are not correct, you need to set them yourself.
Preparing for year-end closure
For administrations created after 31-12-2016, steps 1 to 3 have already been completed and can be skipped.
Step 1: Create General ledger account
Go to Settings > Categories (or general ledger if you use accounting terms).
Create the following accounts:
General Ledger Account 1
Number: 2000
Description: Capital
Type: Balance
Account Type: Regular account
General Ledger Account 2
Number: 9998
Description: Transfer result year-end closure
Type: Balance
Account Type: Regular account
Step 2: create new diary
Go to Settings > Journals and create the following new diary if it doesn't already exist:
Number: 42
Description: Year-End Closure
Type: Memorial
Contra Account: 9998 - Transfer result year-end closure
Step 3: select the journal and account in the settings
Go to Settings > Accounting settings and fill in the following settings if needed:
Journal for year-end closing: 42 - Year-End Closure
Capital account for year-end closing: 2000 - Capital
Closing the year
You can now close the financial year via "Advanced" -> "Close year".
Press "Close year" for the year you want to close.
A pop-up will appear showing the revenue, costs, and balance of the year to be closed. If everything is correct, you can close the year by entering your password and choosing "Close year 20XX". The password you need to enter is the one you used to log in to Informer.
After closing the financial year, the profit for the year will be posted to the account set in the accounting settings (2000 - capital) in period 13. In this case, the balance differs from the actual closing because fiscal year 2017 has already been closed.