Do balances carry forward on their own?

Balance sheet ledgers show their running position in the new year because reports build the opening figure from all earlier entries. Where available, the year-end transfer of the result to retained earnings is also handled for you; otherwise post it as an opening journal voucher as in step 7, and confirm the behaviour with support for your plan.

Can I stop people posting into the old year?

There is no lock date in Settings. Control it through user roles and by making the new year active so the old year is not the default.

Docs · Books · How-to

Close a financial year

You will have the new financial year created and active, the old year’s entries complete and agreed, and a clear check of the opening Trial Balance of the new year before anyone posts into it.

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Financial years in NShine ERP are set under Settings › Financial Year, where each year has a From and To date, a Fiscal Year label and a Set Active action. The dashboard, the bookings list and the finance reports all filter by the selected year, so the year you make active is the one staff see by default.

Closing a year is less a button than a routine: finish the old year’s postings, open the new year, and check that the new year starts from the old year’s closing position.

Before You Start

All bookings, invoices, payments, fuel, services and payroll for the old year are entered, and any Draft journal vouchers are approved or deleted.
Post due has been run in Books › Schedules for the last month of the year.
Your accountant has the old year’s Trial Balance, Profit & Loss and Balance Sheet and has given you the year-end adjustments, if any.

Steps

Open Settings › Financial Year and click Add.
Enter the From and To dates of the new year and its Fiscal Year label. Use whatever year your country or company follows; April to March, January to December or a July start all work.
Save, then click Set Active on the new year. From now on the dashboard and lists open on the new year. Users can still switch to the old year with the financial-year selector to finish it.
Post the year-end adjustments into the old year. Enter them as journal vouchers dated the last day of the old year: accruals, provisions, depreciation not covered by Schedules, and corrections. Switch the selector to the old year to review them.
Run Reports › Trial Balance, Profit & Loss and Balance Sheet for the full old year and save the prints or Excel files. These are the figures you sign off; keep them with the year’s records.
Run the Trial Balance for the first day of the new year. Customer, supplier, bank, employee, loan and asset balances should equal the old year’s closing Balance Sheet. Income and expense ledgers should start at zero.
If the opening position is not what you expect, post an opening journal voucher dated the first day of the new year. Carry each balance sheet ledger forward and take the old year’s result to retained earnings or capital, as your accountant directs.
Tell the team the old year is closed. Any late entry for the old year should go through one person so the signed-off figures are not changed without a note.

Fields on Settings › Financial Year

Field	What to enter	Required
From	First day of the year	Yes
To	Last day of the year	Yes
Fiscal Year	The label shown in the selector, for example 2026-27	Yes
Set Active	Makes this the default year for dashboard, lists and reports	Action

What This Changes

The new year appears in the financial-year selector on the dashboard, bookings and reports, and is selected by default once active.
Opening positions for the new year’s Trial Balance and Balance Sheet are built from the entries before the year start, so balance sheet ledgers continue and income and expense ledgers restart.
Voucher numbering follows Settings › Invoice Settings; check the Start Index for each Voucher Type if your numbering restarts each year.
Nothing is locked automatically. Entries dated in the old year can still be posted where a user’s role allows it.

Tips

Create the next year a few weeks before it starts so bookings with pickup dates in the new year can be entered without a gap.
Export the old year’s party statements and the Cash Book and Bank Book along with the statements; auditors ask for them.
Check the vehicle-wise Vehicle Profit/Loss report for the old year before closing; it is the easiest place to spot a booking missing its supplier bill or fuel.

Frequently asked questions

Need Help?

Chat with the NShine ERP support team on WhatsApp at +91 79950 87755, or ask from inside the app. Last checked 9 November 2026 against app.nshineerp.com.