Close the books
Lock everything up to a date so nothing can be posted, changed or removed in a finished period. Usually the end of a financial year or tax filing period.
Close
Where in the app: Settings → Company settings → Close the books (owners and admins)
Pick the date, or use the quick picks: the end of last financial year, or the end of last month.
- Nothing can be dated on or before it: not transactions, journal entries, imports or postings.
- Transactions in it open read-only; receipts can still be attached.
- New entries and reversals default to the first open day.
Reopen
Move the date back, or Reopen all periods (it asks for a second click). Every change is in the audit log.
Before you close
What you should see
- Every bank, card and cash account reconciled to the date
- Every settlement and marketplace month in the books, and every payout matched
- Cost of goods sold posted for each month
- Sales tax report agrees with what you filed
Read next
Month end for marketplace sellers, in order
The monthly close for a selling business, step by step, with the check after each. Most months it takes under an hour once automatic posting is on.
Read the guideReconcile an account against its statement
Enter the statement's date and ending balance, tick what's on it, and finish when the difference is zero. Reconciled transactions are locked until you undo.
Read the guideProfit and loss, balance sheet, trial balance
The standard reports for any period of your financial year, ready to print or hand to your accountant, plus the general ledger and every transaction.
Read the guide