Closing keeps finished periods from changing. Corrections after a close go in as reversals, so the history stays complete.
Close a month
- Open the Books app and enter the month in Period (YYYY-MM, for example 2026-09).
- Select Close period and confirm.
Nothing can be posted into a closed period. If you made a mistake earlier, open Journals, choose the Reversal date, and select Reverse on the journal. The original stays on the books marked reversed, and the mirror posts into an open period. The reversal date must fall inside the period shown in Period.
Close the year
Open Setup. The note at the bottom gives the order: revalue foreign balances, close the year, then set the lock date.
- Revalue foreign balances (only if you hold foreign-currency balances). Select Revalue foreign balances, enter the period-end rate for each currency (base currency per one unit), use Add currency for more, and select Revalue. One unrealised gain or loss journal is posted per account. Each account then shows Posted, Already revalued or No change. Repeating a period posts nothing new.
- Close every earlier month of the year first.
- Under Year end, enter the Last period of the year and select Close year and confirm. Income and expense move into retained earnings and the last period closes. The year then shows Closed.
- Under Lock date, set the last day of the year with Set lock date.
Closing the year cannot be undone from the screen. Profit and loss reports leave the closing journal out, while the trial balance and balance sheet include it.
Recurring journals
In Setup, Recurring journals holds monthly templates. Enter a date in Run as of and select Run recurring journals to post those that are due. Running the same date again posts nothing twice.
Closing a period, closing a year and setting the lock date are for owners and admins.