Fiscal Years: Add, Close and Reopen
Fiscal years define budget periods; closing one blocks all postings dated inside it and only an Administrator can close or reopen it.
For School administrators, Accountants, Directors and proprietors. Updated 2026-10-09.
Overview
Open Journals and Statements > Fiscal years tab. Add fiscal year needs a Name of at least 3 characters (for example FY 2026/27), Starts and Ends. The end must be after the start ("The year must end after it starts."), the dates cannot overlap an existing year ("That overlaps <name>."), and names are unique.
The table shows Year, the date range and an Open or Closed badge. Close year (with a confirmation "Nothing more can be posted into it") and Reopen appear only for Administrators.
While a year is Closed every journal, bill approval, goods receipt, payment or reversal dated inside it is refused with "<year> is closed, so nothing can be posted on <date>.", which keeps published statements stable. If no year covers today the Overview tab shows "No fiscal year covers today.
Add one under Fiscal years so budgets and year-end closing work." Budgets are created against a fiscal year. Closing and reopening are recorded in the audit log. Adding a year needs the “add account” permission.
Before you start
- The “add account” permission to add years
- Administrator to close or reopen
Steps
- Open Accounting > Journals & Ledger and choose the Fiscal years tab
- Select Add fiscal year
- Enter the name, start and end dates and select Add
- To lock a finished year, an Administrator selects Close year and confirms
- To fix something later, an Administrator selects Reopen
Common problems
That overlaps another fiscal year
Years cannot share dates. Adjust the start or end date so the periods are consecutive.
Close year button is missing
Only an Administrator can close or reopen a year.
Nothing can be posted on a date
The date falls in a Closed year. Reopen it, or post into the current open year.