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Year-end close & period management

Shillinq supports a structured period-close process — from daily reconciliation through to annual account finalisation. This page covers closing entries, fiscal year configuration, reconciliation schedules, and the year-end checklist.

Fiscal years​

Go to Bookkeeping → Fiscal years to see all configured fiscal years and their close status.

StatusMeaning
OpenTransactions can still be posted
Soft-closedNo new transactions; adjustments require override
Hard-closedFully locked; no changes allowed

To open a new fiscal year: click + New fiscal year, set the start date (01-01 for most Dutch companies) and end date (31-12), and save.

To close a fiscal year: use the Year-end close checklist (see below). Shillinq will only allow hard-close once all checklist items are completed.

Year-end close checklist​

The checklist guides you through the standard close steps in order:

  1. Reconcile bank — confirm bank statement is imported and all items matched.
  2. Reconcile debtors — AR balance = sum of open invoices.
  3. Reconcile creditors — AP balance = sum of open bills.
  4. Post depreciation — all fixed asset depreciation entries for the year are posted.
  5. Post accruals — year-end accruals and prepayments are journalised.
  6. Run trial balance — no unexplained differences.
  7. Tax provisions — VPB and deferred tax are calculated and posted.
  8. Closing entries — P&L balances transferred to retained earnings.
  9. Final trial balance — re-run after closing entries.
  10. Hard-close — lock the fiscal year.

Each step has a status indicator. You can mark steps complete manually or let Shillinq verify them automatically.

Closing entries​

Closing entries (sluitboekingen) transfer the year's profit or loss from the income statement (P&L) accounts to equity. After closing:

  • All revenue and expense accounts reset to zero for the new year.
  • The net result posts to Retained earnings (eigen vermogen) on the balance sheet.

Shillinq generates the closing entries automatically from the trial balance. Review them, then post.

Reconciliations​

The Reconciliations page tracks subsidiary-ledger reconciliations — comparing sub-ledger totals (open invoices, fixed asset register, payroll) against the corresponding GL account balance.

Each reconciliation record shows:

  • The GL account being reconciled
  • The sub-ledger total
  • The GL balance
  • The difference (should be zero)
  • The last reconciliation date and who performed it

Unmatched items​

The Unmatched items page lists bank transactions that could not be matched during reconciliation. Review and manually assign each item before closing the period.

Variance report​

The Variance report compares actual amounts to budget or to the same period last year. Use it for management review before closing the period.