Year-End Fiscal Close & Retained Earnings

Choose the fiscal-year period and confirm its dates and account settings. Finish the close checklist and lock the period before starting year-end close. You also need access to accounting tools.

1. 1
   Open the period's Year-End Review & Close page and inspect the preview of proposed closing journal lines.
2. 2
   Reconcile revenue and expense totals, retained earnings mapping and the date of the proposed entry. Resolve blocking checklist items.
3. 3
   Run the final Trial Balance and investigate unusual account balances before executing the close.
4. 4
   Select the close action once. If the period was already closed through this process, review its existing closing entry rather than trying to create another.
5. 5
   After the close, inspect the closing journal and the new year's brought-forward balances.

Year-end close carries the approved result into equity; it should follow completed reconciliations and period review.

KariVast posts the closing entry, when there are lines to close, and marks the period Closed together. Check the closing journal and period status. The close does not import prior-year records or create opening balances for the next year.

WARNING: A year-end close posts a journal and closes the period. Compare the preview with the trial balance before executing; later corrections require the authorized period-reopen and journal-correction workflows.

If the period is not locked or readiness checks fail, resolve those prerequisites before retrying.

If the close is blocked, resolve the specific readiness item and rerun the review before trying again.