---
title: "Year-End: How To Close The Fiscal Year"
canonical: "https://technology.bytangram.com/space/TGKB/1794342979/Year-End%3A%20How%20To%20Close%20The%20Fiscal%20Year"
format: markdown
---
This will guide you through the setup and completion of the year-end closing of your fiscal year within Deltek WorkBook.

If you encounter a missing setup, please refer to your Tangram consultant.

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## REVIEW REQUIRED SETUP

Make sure you have the basic setup completed before beginning year-end closing.

1. Check the Journal types are set up correctly.

- Go to **settings **module > **finance** > **journal types**
- You’ll find a “**year-end closing**” type as seen in the screenshot below:

![image](media://5f2d21b8-d787-4d97-b1d2-57fcbb382236)


2. Ensure the year-end closing is mapped to the correct type.

- From the **journal types** menu > go to the **journal types mapping** tab

![image](media://ad8cce8c-a391-47d5-8720-c17760b04e51)


3. Check the basic finance settings for the company you’re doing the year-end closing for. 

- In **settings** > **finance** menu > select **basic finance settings **
- Make sure you have an **Operating** and **Equity account** selected as shown in the screenshot below:

![image](media://f8352f92-282f-4411-a385-f2380a1a9fcb)


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## INSTRUCTIONS FOR MAKING YEAR-END CLOSURE 

Once the setup is confirmed correct or validated to work as intended, your year-end process can begin.

1. Approve open entries from the previous year

- Go to the **finance & administration **module > **administrative follow-up **> **open job adjustments**

> 📝 Creditor & debtor invoices can be approved from their separate interface under: 
> 📝 
> 📝 - Creditors > creditor invoices
> 📝 - Debtors > debtor invoices


![image](media://ba3de231-e2c1-4b1f-8f9d-09439561619e)

2. Complete all open transactions.

- Go to **general ledger** > **project posting**
- In the **include up to this date** field > add the **last date in your fiscal year**


![image](media://ce8eedd0-0e32-4f8b-8b06-9c0981049865)


3. One final step before the last process is to make sure all manual and daily journals are approved, cancelled, or booked correctly.

- In **general ledger** > go to the **journals** menu


![image](media://b4d06b00-207a-4203-8c4d-63349bc8e94b)


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## FINAL INSTRUCTIONS  

Let WorkBook do the job for you and close the year off

- Start by navigating to **finance & administration**
- Navigate to **month-end **> select **month / year closure **
- Select the **Financial Year **you want to close from the drop-down:

![image-20240728-230135.png](media://65882619-f2e2-4fdc-90cc-a5e0ae2f034d)

- Create a **new closure **as shown in the screenshot below

![image-20240728-230235.png](media://7fff7a5f-14de-4834-b2c4-815d781f8d63)

- Fill out the information required:
  - Select your **fiscal year** & **period final date**
  - The voucher number is automatic
  - **Posting description** is required e.g. “Year-end closure 1”
  - We recommend that you make the system automatically **post & close** the fiscal year accounting periods

![image](media://360cb7ef-c3a6-48b1-a176-73b4061e1861)

> 📝 **Note:** If a financial period is reopened and further transactions are made into the closed year, you will need to move the additional balance. To do this, you can create a new Year End Closure and WorkBook will pick up only the incremental result and move it from the nominated operating account to the nominated balance sheet account. Alternatively you could reverse the original year end closure journal and reprocess the year end closure.

  


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