Closing the fiscal year is not a button you simply press. It is a process in which you check, correct, lock and archive — preferably in that order. Here you will read how to do that neatly in Odoo, and how to prevent someone in March from accidentally posting an invoice in the closed fiscal year (and giving your accountant a grey hair).
1. Voorlopig afsluiten (Soft Close)
Go to Accounting → Accounting → Locks. Set a Tax Return Lock Date and Global Lock Date to the last day of the fiscal year. Nobody can then post journal entries in that year any more, except users with the Advisor role. That leaves your controller or accountant room for correcting entries, while the rest of the organisation simply carries on working in the new year.
2. Controles uitvoeren
Go through these points one by one before you make anything final:
- Print the trial balance and compare it with last year — explain any large deviations first
- Check open invoices and credit notes; clean up or post old drafts
- Close bank reconciliations (no open matches left in the closed year)
- Compare the inventory valuation with the general ledger (GL 300xxx) — investigate differences, do not just write them off
- File and pay the VAT return for Q4
3. Definitieve afsluiting
Once your accountant has approved, you set everything to the final date in the same Lock screen. Odoo then automatically creates the closing entries for the profit and loss account and opens the new year. So there is no separate "run year-end closing" action as in some classic accounting packages — the lock dates are the closing.
4. Grootboekrekening blokkeren
Want to block certain accounts permanently (for example an old payroll tax account that may no longer be used)? Open the account in Accounting → Configuration → Chart of Accounts, and click Action → Archive at the top right. The account remains visible in historical reports but can no longer be selected in new entries.
Tip: restrict access per journal
For structural control over who may use which journals, combine the lock dates with access rights per journal. That prevents someone outside Finance from accidentally posting in a closing or miscellaneous journal. Setting it up properly once saves clean-up work every year.
Practical tip: set the soft-close lock right away in the first week of January — the longer you wait, the more entries quietly end up in the old year. Need help with your year-end closing in Odoo? Contact DAADit Group or start the free Business Scan.
Start the Business Scan →Closing the fiscal year is not a button you simply press. It is a process in which you check, correct, lock and archive — preferably in that order. Here is how to do it neatly in Odoo, and how to prevent someone from accidentally posting an invoice into the closed fiscal year in March (giving your accountant a grey hair).
1. Provisional close (Soft Close)
Go to Accounting → Accounting → Locks. Set a Tax Return Lock Date and Global Lock Date to the last day of the fiscal year. No one can then post journal entries in that year, except users with the Adviser role. Your controller or accountant keeps room for correction entries, while the rest of the organisation simply continues working in the new year.
2. Perform checks
Work through these points one by one before making anything final:
- Produce the trial balance and compare with last year — explain large deviations first
- Check outstanding invoices and credit notes; clean up or post old drafts
- Close bank reconciliations (no outstanding matches left in the closed year)
- Compare the inventory valuation with the general ledger (GL 300xxx) — investigate differences, don't just write them off
- File and pay the VAT return for Q4
3. Final closing
After your accountant's approval, you set everything to the final date in the same Lock screen. Odoo then automatically creates the closing entries for the profit and loss account and opens the new year. There is no separate "run year-end" action like in some classic accounting packages — the lock dates are the closing.
4. Block a general ledger account
Want to permanently block certain accounts (for example an old payroll tax account that may no longer be used)? Open the account in Accounting → Configuration → Chart of Accounts and click Action → Archive at the top right. The account remains visible in historical reports but can no longer be selected in new entries. Useful after restructuring your chart of accounts.
Tip: restrict access per journal
For structural control over who may use which journals, combine the lock dates with access rights per journal. This prevents someone outside Finance from accidentally posting in a closing or miscellaneous journal. Set it up properly once and you save clean-up work every year.
Practical tip: set the soft-close lock in the first week of January — the longer you wait, the more entries quietly slip into the old year. Need help with your year-end closing in Odoo? Contact DAADit Group or take the free Business Scan.
Start the Business Scan →