Glossary
Year-end closing
Definition
Year-end closing is the set of steps that make the books of a financial year final. It covers checking the figures, posting the year-end entries, moving the year's profit into equity and locking the periods. The closing comes before the annual report.
Example. After the closing of the 2026 financial year, the profit for the year is moved into retained earnings, and the 2026 periods are locked.
Why it matters for your company
A closed year gives the annual report and the opening balances for the next year. Doing the steps in order keeps the figures the same at every stage.
Where you see it in Sapita
On the year-end screen, as the checklist of steps before the period lock.