Written By Team Flobiz
Last updated 2 months ago
Feature Overview
Closing the financial year in myBillBook ensures a smooth transition to the new accounting year. This process helps businesses maintain organised financial records, set new voucher prefixes, and start fresh without affecting historical data.By following a few simple steps, users can close the current financial year and begin the new one seamlessly.
Step-by-Step Guide
Step 1: Visit myBillBook
Open myBillBook and log in using your credentials.
Step 2: Access Settings
Click on the Settings option from the main menu.
Step 3: Go to Manage Business
Under Settings, select Manage Business.
Step 4: Initiate Year Closure
Tap on Close Financial Year.
Step 5: Confirm & Continue
Click on the checkbox to confirm the closure.
Click Continue to proceed.
Step 6: Set New Voucher Prefixes
Choose whether to set custom prefixes for sales, purchase vouchers, and other transactions.
Alternatively, continue with the suggested prefixes.
Step 7: Complete the Process
The current financial year will be closed, and a fresh new year will begin
