> For the complete documentation index, see [llms.txt](https://help.rbsgo.com/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://help.rbsgo.com/general-ledger/general-ledger-module/gl-masters/gl-masters-fiscal-year-closing.md).

# Fiscal Year Closing

The **Fiscal Year Closing** option is used to close the current accounting year after ensuring that the **Balance Sheet is properly matched and finalised**. During this process, all ledger balances are transferred to the next fiscal year as opening balances.

## Steps for Fiscal Year Closing

Step 1: Navigate to the **General Ledger** module.

1. Click **Masters 1** from the menu.
2. Select the **Fiscal Year Closing** option.

* The Fiscal Year Closing screen will be displayed.

Step 2: Enter the **Narration** or description for the fiscal year closing process.

Step 3: Click the **Proceed** button.

* The system will initiate the fiscal year closing process.

<figure><img src="https://4060887901-files.gitbook.io/~/files/v0/b/gitbook-x-prod.appspot.com/o/spaces%2F2ktZUs9CJyincVDXEmrM%2Fuploads%2Fgit-blob-502b91d9f7e366a7be7d13a9854488f440d1ebd2%2FScreenshot%20From%202026-06-10%2014-10-51.png?alt=media" alt=""><figcaption></figcaption></figure>


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