Year-end close (closing entries)

Year-end close (closing entries)

Year-end close is a stricter version of period close: Alice runs validation, ensures VAT is complete, generates closing entries deterministically, locks the final period, and then produces the year-end report set. The outcome is a repository revision that makes the derivation of opening balances for the next year straightforward to review.

In Finnish closing practice, this workflow should be aligned with statutory milestones: prepare the financial statement package within 4 months from year end, complete Oy general meeting approval within 6 months, and complete Trade Register filing in the applicable filing window (commonly 8 months for Oy/cooperative filing paths). Statement-facing outputs are prepared for Finnish/Swedish presentation in euros and move to formal dating/signing in the governance step.

  1. Alice validates that the workspace datasets are internally consistent before generating close outputs:
bus validate
  1. Alice completes VAT for the final reporting periods and exports the archived VAT artifacts:
bus vat report --period 2026-12
bus vat export --period 2026-12
  1. Alice closes the final accounting period and generates the closing entry outputs:
bus period close --period 2026-12 --post-date 2026-12-31

The close produces deterministic entries that bring the period to a clean boundary and records period-close metadata as repository data. Transfer of profit or loss to equity (retained earnings) is expressed as new append-only postings. Until bus period supports automatic result-to-equity transfer, post that transfer with bus journal add using your chart’s equity account; see the bus-period CLI reference.

  1. Alice locks the closed period to prevent later edits from drifting reported results:
bus period lock --period 2026-12
  1. Alice generates the year-end report set from the closed, locked journal:
bus reports trial-balance --as-of 2026-12-31
bus reports general-ledger --period 2026-12
bus reports profit-and-loss --period 2026-12 --format pma
bus reports balance-sheet --as-of 2026-12-31 --format pma
  1. Alice records the year-end close as a new revision using her version control tooling, so the closed year is easy to reference and export later.

If a particular jurisdiction, accountant, or workflow needs additional close outputs beyond what the pinned modules provide, the schema-defined repository data still allows Alice to derive those outputs with a script and store them as additional repository data, without rewriting earlier records.

For detailed legal timeline anchors and close-control topics, use Finnish closing deadlines and legal milestones, Finnish closing checklist and reconciliations, and Finnish closing adjustments and evidence controls.

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