A fiscal period may contain years, quarters or months. In general, they are usually 12 months and may or may not coincide with a calendar year (Gregorian calendar). In Holded you will be able to configure, lock and unlock and automate the tax period whenever you need it from Menu> Settings.
How to configure the tax period
Go to Menu> Settings and, once there, perform the following steps:
Click on Fiscal period in the Accounting section.
Choose the day and month when the period will end (closing date).
Confirm the action.
Note that after defining the tax period, you will be able to automatically close the accounts. If you activate this option, you will avoid making one by one regularisation and closing entries at the end of the accounting period.
How to lock and unlock the tax period
Before blocking the tax period, it is important to know that after blocking you will not be able to associate new information or modify or delete a movement that appears within the period.
Therefore, the movements on sales invoices, purchase invoices and their respective rectifications, payrolls, sales receipts, assets, entries and payments and receipts will remain unchanged.
To block the fiscal period go to Menu> Settings. And, once there, perform the following steps:
Click on Fiscal period in the Accounting section.
Click on Lock period and choose the date when your period will end.
Check the box and confirm the action.
To access the calendar, click on the field marked "Lock to avoid errors".
In case you want to unlock the tax period to make any changes, just click on the date you indicated when you locked it and leave the field empty. Then check the box and confirm this action.
Finally, review your company's roles and enable the users who will be able to lock and unlock the tax period.
How to lock the accounting period
Go to Menu> Settings and, once there, perform the following steps:
Click on Fiscal period in the Accounting section.
Click on Lock period.
Check the box and confirm the action.
After locking the accounting period, you prevent any action from being taken that generates or modifies a journal entry, such as editing invoices, reconciling, depreciating assets, etc.
How to protect your tax forms
Go to Menu> Settings and, once there, perform the following steps:
Click on Tax period in the Accounting section.
Click on Lock period.
Check the box and confirm the action.
By protecting your models, you prevent the generation or modification of sales or purchase documents that affect your models. You will be able to reconcile, depreciate assets, etc.
How to activate the automatic accounting closure
Go to Menu> Settings and, once there, carry out the following steps:
Click on Fiscal period in the Accounting section.
Click on Automatic closing and select the year.
Check the box and confirm the action.
After closing the year automatically, you will be able to modify the entries already recorded or add new ones to the closed year if you unlock the tax period.
Check the regularisation and closing entries
After activating the automatic year-end closing, it is important that you check the regularisation and closing entries from the journal.
Once there, filter the entries by the year or date you used to make the automatic closing and check that the opening and closing entries are correct.
Bear in mind that if you redo the automatic closing, the lines of the closing, regularisation and opening entries to be overwritten must not be dotted to avoid problems in the generation of the new closing.
Finally, remember to perform the automatic closing each time you modify or add an accounting entry to the year already closed. This way the values will be recalculated and the accounting close will be consistent.