Accounting
Period close
Close each month once its books are complete. A closed month refuses postings; automatic postings go to the next open month.
Months
| Month | Status | Journals |
|---|
September 2026
Pre-close checklist
Monthly routine
- Record the month's bills and expenses; approve pending bill payments and journals (Payables, Drafts & approvals).
- Reconcile the trust account (three-way, Trust & Reconciliation) and each operating account (Operating bank); get both signed off.
- After the month ends, let the nightly catch-up run (or Run catch-up now) so the month-end accrual posts; check GL health.
- Review the P&L and balance sheet; post any adjusting journals.
- Close month here.
- Export the month for the accountant if they keep their own file (Accountant's export).
Year-end close
Fiscal year ends December (Settings → Accounting)| Fiscal year | Income | Expenses | Net income | Status |
|---|
How it works
- After the fiscal year has ended, click Post year-end close. It posts one journal dated the fiscal year end that moves the year's company income and expense balances to 3100 Retained earnings (“Net income for the year” / “Net loss for the year”).
- The year's last month must be open (the button says “Reopen the last month first” otherwise). Post the year-end close, then close that month.
- If income or expenses are posted to the year afterwards, GL health warns: reverse the year-end close journal on the General ledger page and post it again.
Good to know
- Running it twice for the same year does nothing; after a reversal it can be posted again.
- The P&L leaves year-end close journals out, so a closed year still shows its P&L.
- The accountant's export leaves them out too — their accounting system closes its own year.
GL health
Checked Sep 30, 2026 · 2:34 AM · as of Sep 30, 2026
2 warnings3 info
Integrity of the books and their ties to trust and servicing. Also shown in Settings → Accounting and on the Dashboard's Accounting card. The nightly catch-up re-runs the checks.
In the app this lives on Trust & Reconciliation → Accounting export. Since the GL start date is set, the export comes from the general ledger (for months ending on or after Jan 1, 2026); earlier months still use the trust-transaction summary. The mapping and the summary-vs-detail choice are marked Accountant to confirm.
Journal summary · August 2026
The month's GL journals summarised per account (trust and company), under the codes in the account mapping. Year-end close journals are left out.
| GL account | Code in your accounting system | Debit | Credit |
|---|
Reference MS-JNL-2026-08 · journal date Aug 31, 2026 · trust reconciliation signed off Sep 8Exported Sep 9
Export from the general ledger
What to send your accountant
- Profit & loss, balance sheet, trial balance and GL detail — Excel or PDF
- The GL export above (their own software)
- A/P aging (Excel)
- Signed trust and operating bank reconciliation PDFs
Close September 2026
Postings dated in a closed month are refused; automatic postings go to the next open month. You can reopen it later with a reason.
Reopen August 2026
Say why the month is being reopened; the reason is kept in the audit log and shown here. Reopen only to correct something, post the correction, then close the month again.
Year-end close 2026
Posts one journal dated Dec 31, 2026 moving the year's company income and expenses to 3100 Retained earnings.
The fiscal year hasn't ended. Post year-end close becomes available after Dec 31, 2026, while December is still open.
- Income to date
- Expenses to date
- Net income to date
- Journal
- Dr each income account · Cr each expense account · Cr 3100 “Net income for the year”