# End Of Year Closure
The End Of Year Closure page allows you to formally close the current financial year in Udara360. This process transfers the institution's net profit or loss to the designated General Reserve Account and prepares the system for the new financial year. This guide will walk you through initiating the end of year closure process.
### **Accessing End Of Year Closure**
1. Navigate to **Postings** in the left sidebar
2. Select **End Of Year Closure**
### **Running the End Of Year Closure**
1. Enter the financial year being closed in the **Financial Year End** field
2. Click the **General Reserve Account** dropdown and select the appropriate account, available options include **Profit or Loss 2023 - 30205002**, **General Reserve - 30205001**, and **Ordinary Share Capital GL - 30101001**
3. Click **Run End Of Year** to initiate the closure process
> **Note:** This action is irreversible. Once you click **Run End Of Year**, the financial year will be formally closed and the net profit or loss will be transferred to the selected General Reserve Account. Ensure all transactions for the financial year have been fully posted, reconciled, and approved before proceeding.
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