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Year end

Prepare the closing, run the year-end operation and understand the closing and opening entries it generates.

Updated on 10/05/2026 Edit this page

The year end is the operation that finalises the accounts of a year. In a single action, NovaFisko clears the income statement accounts, carries the balance sheet balances forward to the following fiscal year and locks the fiscal year. This page describes the preparation, the exact sequence and what follows the operation.

Before closing

The year end does not check on your behalf that the company file is complete. Review the following points.

  1. Documents and bank: no document remains to be booked in the Documents tab and no transaction is pending in the Bank tab.
  2. Third parties: the items are lettered and the aged balance no longer shows any unexplained anomaly.
  3. VAT: all the returns of the fiscal year are validated.
  4. Fixed assets: the depreciation of the fiscal year is booked (see Fixed assets and depreciation).
  5. Inventory entries: invoices to be received, deferred charges, provisions and appropriation of the result are posted as miscellaneous operations.
  6. Consistency: in the Annual accounts tab, the Consistency sub-tab must display "Fiscal year … consistent". It checks the continuous numbering of the journals, the match between date and period and the dates outside the fiscal year.
  7. Quality: the Quality tab no longer reports any blocking point.
Tip

Issue the trial balance and the annual accounts in preview before closing. Once the fiscal year is closed, any correction requires reopening it.

Running the year end

  1. Open the Annual accounts tab, then the Year end sub-tab.
  2. Check the Current result displayed.
  3. Click Close fiscal year followed by the code of the fiscal year.
  4. A confirmation window recalls the result and the definitive nature of the operation. Confirm.

What the operation does

The three steps are executed together: if one fails, nothing is saved.

Step Entry Detail
1. Closing of the income statement accounts Miscellaneous operation dated the last day, in the closing period (99) Each account of classes 6 and 7 is cleared. The counterpart, equal to the result, is posted to the profit or loss carried forward account (140000 in the Belgian chart). The account is created if it does not exist.
2. Opening balance Miscellaneous operation dated the first day of the following fiscal year, in the opening period (0) The balances of the balance sheet accounts (classes 1 to 5) are carried forward. The closed result joins the result carried forward. The following fiscal year is created automatically if it does not exist yet, over twelve months.
3. Final closing None The fiscal year moves to the closed status and all its periods are locked.

At the end, a message summarises the reference of the closing entry and that of the opening entry. The operation is recorded in the audit trail with the result and both references.

Note

The accounts of classes 0 and 9 are not carried into the opening balance. If no income statement account has a balance, step 1 does not generate an entry.

After closing

  • The exports of the fiscal year now carry the notice Final document.
  • The annual accounts can still be issued: they are established before the closing entry and therefore keep the income statement.
  • The full dossier (ZIP archive) can be generated for statutory archiving.
  • Bookkeeping continues normally in the following fiscal year, which opens with its balances carried forward.

Difference from the simple closing

The Periods and closing dialog offers a Close fiscal year action that only locks the periods, without posting any entry. Use it to freeze provisionally a year whose closing entries were posted in another way, or taken over from other software. For a fiscal year kept entirely in NovaFisko, prefer the year end described here.

Correcting afterwards

A year end that has already been executed cannot be run again: NovaFisko replies that the fiscal year is closed.

  1. Reopen the fiscal year from the Periods and closing dialog (Reopen fiscal year).
  2. Reverse the closing entry (period 99) and the opening entry of the following fiscal year (period 0).
  3. Post your corrections.
  4. Run the year end again.
Warning

If final documents have already been handed over (annual accounts, full dossier), issue them again after correction: their fingerprint will have changed.

See also