End Of Year Closure

The End of Year Closure page initiates the end-of-year closing process, which involves transferring profits or losses to the general reserve account and preparing the system for the new financial year.

Accessing the End of Year Closure Page

1. Log into the banking application using your credentials.

2. Navigate to the Postings section.

3. Select the End of Year Closure page from the available options.

Initiate End of Year Closure:

1. Financial Year End: Enter the financial year that is ending.

2. General Reserve Account: Select the appropriate general reserve account to which the net profit or loss will be transferred.

3. Run End of Year: Click the "Run End of Year" button to start the closure process.