How to Close Financial Year (Fiscal Year) in Retailgraph Software

Close Financial Year in SwilERP

Closing and Changing Financial Year in SwilERP 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 year's balances and starting anew. Changing the financial year allows for adjustments and ensures accurate financial tracking. In SwilERP Software, this option is found in the 'Options' section for easy access.

To view the process, please watch the following instructional video:






Step:1- Backup of your Data

  1. For data backup go to Options > Data Backup.
Reference Image:
Data Backup Menu Window


A window will open where you can select the path for your backup file. If you wish to save your current year's financial data backup in a different location other than the default path, you can change the path and rename the file to include the current year in the name before saving it.

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Backup files.

Read more: How to backup data manually and automatically in SwilERP                                                                   

Step:2- Close Financial Year

After taking the backup, proceed with the following steps to close the Financial Year:
  1. Navigate to: Options > Close Financial Year.
Reference Image:
Close Financial Year Menu Window

To Close Financial Year follow the easy steps below:
  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.



Reference Image:
Close Financial Year Window

Note:
 After closing the financial year, users can access the previous year and make required changes or transactions through the "Change Financial Year option".

Step:3- Change Financial Year

  1. Click on Options > Change Financial Year.
Reference Image:
Change Financial Year Menu Window

After that, the Change Financial Year window will appear:
  1. As you can see in the below window, all the financial years are given.
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Change Financial Year Window
  1. To access the last financial year (01-04-2025 to 31-03-2026) after closing, double-click on the selected financial year.
  2. Make the necessary changes as required.
  3. If multiple users need to update past transactions, enable the 'Change Financial Year For All Users' option.
Reference Window:
Change Financial Year Window
  1. After that a "Financial Year Has been Changed Successfully" message will appear.
  2. Press Ok to continue.
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