Close a period

Every posting in WbizManager is checked against the date's fiscal period. A fiscal year is split into twelve monthly periods. Postings are allowed only in an Open period:

• If no fiscal year covers a date, nothing can post on it (No configured fiscal period for posting date.). Create each fiscal year before you start posting in it.
• When a month's books are final, close its period so nothing more posts to it by mistake.
• At the end of the year, close the year. A closing journal moves the year's income and expenses into retained earnings.

Steps

1. Open Accounts › Period Closing

   In the menu on the left, select Accounts, then Period Closing. Fiscal Period Management lists your fiscal years with their Status. Select a year to see its periods.

   

   1. Period Closing in the Accounts menu.
   2. Create Fiscal Year.
   3. The fiscal year you're looking at. Select it to switch year.
   4. A period's Status: Open or Closed.
   5. Checklist shows what still needs attention in the period.
   6. The lock closes the period. On a closed period it requests a reopen.
   7. Reopen Requests lists requests to reopen periods.
2. Create a fiscal year

   Select Create Fiscal Year. Enter the Fiscal Year (for example 2026), the Start Month and the Start Day, and select Create. WbizManager creates the year with twelve monthly periods, all Open. You'll see Fiscal year 2026 created successfully.

   A year that starts on 1 August 2026 runs to 31 July 2027, and its periods are Aug 2026 to Jul 2027.

3. Check the period before closing it

   On the period's row, select Checklist. Close checklist checks the period for things that usually need fixing first, each with a link to fix it:

   • draft invoices, bills, credit notes and debit notes, and unposted journals, dated in the period;
   • bank lines not yet reconciled;
   • balances left in suspense accounts;
   • depreciation not run;
   • unbalanced or unbatched postings, and broken reversal links.

   It shows Ready to close, or how many items need attention.

4. Close the period

   Select the lock on the period's row. The Close Period panel opens.

   

   1. What still needs attention, with a link to fix each item.
   2. If you want to close anyway, tick I have reviewed these items and want to close the period anyway.
   3. Reason: required.
   4. Close Period.

   You'll see Sep 2026 closed successfully. (with the period's name). Nothing more can post to that month.

5. Close the year

   The Year-end close section under the periods shows what the close will do. The closing journal is posted on the last day of the year and moves every income and expense account's balance for the year into retained earnings. The Statement of Profit or Loss still shows the year's results.

   

   1. Retained earnings account: the Equity account that receives the profit.
   2. Checks: each must pass (green) before you can close.
   3. Closing journal: what will post to each account.
   4. Close the year.

   The checks are:

   • Retained earnings account: an Equity posting account is marked Use as Transfer of Net Profit account in the chart of accounts.
   • Periods closed: every period except the last is closed.
   • Unposted documents: no draft invoices, bills, credit notes, debit notes or unposted journals are dated in the year.
   • Income and expense accounts: every account with a balance is active.
   • Base currency: the organisation's base currency is set.

   When every check passes, select Close the year, then Confirm close. You'll see that the year is closed and its result was moved to retained earnings. Nothing more can be posted to the year.

Reopen a closed period

If something must be posted to a closed month:

1. Select the lock on the closed period (Request reopen). The Request Period Reopen panel opens.
2. Enter the Reason and select Submit Request.

If an approval workflow applies to period reopen, the request goes to the approvers (approve accounting documents), and the period reopens when it's approved. Otherwise it reopens at once. Follow the requests under Reopen Requests.

To undo a year-end close, open the year, fill in Reason for reversing the close and select Reverse the close. A reversing journal is posted and the year accepts postings again. You can't reverse it if the next year has been closed at year end, or if every period of the next year is closed.

If something goes wrong

Message	What to do
No configured fiscal period for posting date.	Create the fiscal year that holds the date.
Posting blocked because period is closed.	Post in an open period, or request a reopen.
Posting blocked because the fiscal year has been closed at year end. Reverse the year-end close to post to it.	Reverse the year-end close, or post in the next year.
Fiscal year … already exists.	Open the existing year instead.
A pending reopen request already exists.	Wait for the decision on the existing request.
No retained earnings account is set. …	Edit the Equity posting account that should receive the profit and turn on Use as Transfer of Net Profit account.
Set the organisation's base currency in Currency Settings before closing the year.	Set the base currency in currencies.
Post or delete these documents dated in the year first: …	Post or delete the documents listed.