Year End Activities consists of the following Year End Activities

• Closing Ledger Accounts. 
• Opening Ledger Accounts for the next year.

(A) Closing of Accounts: GNUKhata has a module to Close books at the click of a mouse, when this module is activated, balances in all expenses and incomes accounts are transferred to Profit and Loss/ Income & Expenditure account and the accounts are closed. After Close books is done, transactions cannot be recorded but ledger accounts can be viewed. 

(B) Opening Ledger Accounts for the next year: GNUKhata has a module to Roll over ledger accounts at the click of a mouse. This module opens accounts for the next year automatically and since it is automatic, it is error free. When Roll over is done. 

• New organisation with the same name and type is created by GNUKhata for the next accounting year. 
• Assets and liabilities accounts automatically open under its respective Groups and Sub Groups with opening balances. 
• Expenses and income accounts are opened under their respective Groups and Sub Groups without opening balances 
• The closing stock gets transferred to the next year as opening stock. 

This module can only be activated after close Books is done.