When should you close the financial year?

There is no rule as to when a completed financial year should be closed.

However, we advise you to wait at least 6 weeks after the end of the financial year to close it. This gives you time to receive and enter the last invoices that arrive after the end of the financial year.

When you close your financial year, remember to indicate the date of your financial year’s end (which is therefore different from the date on which you close it).

For example: Your financial year ends on December 31st. A locksmith worked on the front door on December 20th. However, he only sends you the invoice on January 15th… Since you have not yet closed your financial year, you can still enter this invoice in the relevant financial year!

When you close your financial year around mid-February, the date of your financial year’s end to be indicated is December 31st.