Learn How to Close Financial Year in SwilERP | Switch Financial Year in SwilERP

Close Financial Year

How to Close Financial Year in SwilERP Software


Generally, an accounting period is from 1st April to 31st March. Hence, on 31st March closing of the accounts is done, new books are started for the new financial year, and the balance is carried forward to the new financial year.

The close financial year is the accounting process where you clear your previous year's account balances, i.e., you start fresh again. A financial year-end is often referred to as a fiscal year-end, which is the date that ends one year for tracking business finances.






The first step is to take the data backup.

  1. For backup, go to  System > Data Backup > Daily Backup.
​
Reference Image:
SwilERP Dashboard Window
Note:-  The below-given window will open; you can select a path of your backup file. In case you want to save your data backup in another path besides the default path, you can change the file's name with the current year mentioned in the name and save it.

Reference Image:
Data Backup Window
  1. After taking the backup, follow the below-given steps. After the above process to close the Financial Year, follow the below-given steps:-
    1.  Go to  System > System Maintenance > Close Financial Year.
Reference Image:
SwilERP Dashboard Window

  1. To Close Financial Year follow the below easy steps:

  1. The user must tick a mark in the Select All box.
  2. After that, mark the Change Financial Year For All Users
  3. Now, press the Ok tab, and a success message will appear.

Note:- You have to close the software and log in again. Your financial year has successfully changed; now, you can start your billing in the software in the new financial year.


Reference Image:

Financial Year Close Window

      • Related Articles

      • Close Financial Year in SwilERP (RetailGraph)

        Closing and Changing the Financial Year in SwilERP (RetailGraph) Software The close financial year process marks the end of one accounting period and the beginning of another, typically from April 1st to March 31st. It involves clearing previous ...

      • Financial Year change of SwilERP Software

        How can Change Financial Year Period in SwilERP Software Why is a Financial Year change required? Generally, an accounting period is from 1st April to 31st March. Hence, on 31st March closing of the accounts is done, new books are started for the new ...

      • Consolidated Balance Sheet: A Snapshot of Financial Health

        How to View Consolidated Balance Sheet in SwilERP Enterprise A balance sheet is a financial statement that provides a snapshot of a company's financial position at a specific point in time, usually at the end of an accounting period. It shows a ...

      • I tried closing in SwilERP (RetailGraph). Some problems ?

        Financial Year Closing Process In SwilERP (RetailGraph) Click Start Button- Options - Close Financial Year. RetailGraph (How to Close Financial Year) RetailGraph (How to Close Financial Year Video) 1) After Closing my financial year New Sales Invoice ...

      • RetailGraph Training Session- Day 6 (Advance Training )

        Advanced Training INDEX 1. User Role/Rights 2. Re-posting 3. Recalculating Product Balances 4. Log 5. Facilities 1. User Role/Rights What is a Role? The actions and activities assigned to or required or expected of a person or group is called a Role. ...