Fiscal close: closing the month, closing the year and reopening
Closing a month freezes its IVA return and blocks any movement dated in it. The year-end close creates the entries that move the result to retained earnings; everything can be reopened with a reason and stays audited.
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Steps
Open Accounting → Fiscal close and move between months with the arrows in the header. The top panel shows whether the month is an Open period, a Closed period or a Rectification period.
Before closing, clear what is pending: received documents not yet accepted, invoices waiting for Hacienda and unreconciled bank movements. The Month-close assistant automation (Settings → Automation) leaves you that list during the last three days of the month.
Click Close period and confirm. Closing freezes the month's IVA calculation and blocks any invoice, bill, payment or journal entry dated in that month. Months close in order: if you see “Close :period before closing this month”, close the earlier one first.
To correct the return of a closed month use Open rectification: Tario creates a new version of the IVA calculation and keeps the original closed one.
To record movements again in a closed month use Reopen period and enter the Reason for reopening; it is stored in the Period audit history with user and date.
In December the Fiscal year close · :year panel appears. With the previous 11 months closed, Close fiscal year creates the numbered entries that zero revenue and expenses and move the result to Utilidades Retenidas; it then closes December.
Reopen fiscal year reverses those entries (they stay in the history as reversals) and opens December for corrections; you can close the year again afterwards. A year cannot be reopened once the following year is closed.
Tips
- Only users with the Manage permission in Accounting see the close and reopen buttons.
- The Trial Balance offers the Post-closing type to see balances after the year-end closing entries.
Common errors
| Code or message | What it means | How to fix it |
|---|---|---|
This date is in a closed accounting period (:period). Reopen it or use a date in an open period. | You tried to save an invoice, bill, payment or journal entry dated in a closed month. | Reopen the period from Fiscal close with a reason, or use a date inside an open month. |
Close :period before closing this month. | An earlier month of the same year is still open with activity. | Go back with the header arrow, close that month and return. |
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