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

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 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 Menu-> Options -> Data Backup.
Reference Image:
SwilERP Dashboard 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.

Reference Image:
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: Menu-> Options-> Close Financial Year.
Reference Image:
SwilERP Dashboard Image:

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

Step:3- Change Financial Year

  1. To change the Financial Year, click on the System menu.
  2. Select Menu > Options > Change Financial Year

Reference Image:


After that, the Change Financial Year window will appear:
  1. As you can see in the below window, all the financial years are given.
Reference Image:
Change Financial Year Window
  1. Suppose that you want to go in the financial year of "01-04-2022 to 31-03-2023" to do needful changes.
  2. In that condition, double-click on the selected financial year.
  3. If everyone needs to update something from their last transaction, they should tick 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.
Reference Image:

       

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