Year-End Close

Year-end close finalizes the accounting records for a fiscal year and prepares the opening position for the next year. It includes reviewing assets, liabilities, income, expenses and year-end adjustments.

Odoo documents a year-end checklist, fiscal-year configuration and lock dates. Its current-year earnings reporting avoids assuming that every business must manually zero all income and expense accounts; accountants still review the books and record required allocations or adjustments.