Year-End Close

Wrap up each fiscal period with Kantivo's intelligent, permission-based closing workflow -- entirely on your local machine.

How It Works

Kantivo pairs intelligent detection with hands-on user control so that no year is closed without your explicit authorization:

• Smart Scanning: Kantivo examines your local books for fiscal years that contain income or expense activity but have not yet been finalized
• Your Decision: The software never finalizes a year on its own -- you choose exactly when and which periods to close
• Transparent Preview: Before any closing entry is posted, you can review the net income figure for every detected year
• Granular Control: Finalize everything at once or handle each year individually based on your readiness

Automatic Detection

Each time you sign in, Kantivo scans your data for fiscal years that remain open. When it identifies any, a summary prompt appears displaying:

• The specific year or years requiring attention
• The start and end dates defining each fiscal period
• The computed Net Income figure (total revenue minus total expenses)
• How many income and expense accounts will be affected by the closing entry

The Approval Prompt

Whenever open years are discovered, a dialog appears offering these choices:

Selecting Years to Close

• Every detected year is listed with a checkbox that is enabled by default
• Deselect any year you prefer to leave open for now
• Press "Close Selected Years" to generate the closing entries

Remind Me Later

If the timing is not right, you can postpone the prompt:

1. Toggle the "Remind me later" option
2. Pick a deferral window: 1 day, 5 days, or 15 days
3. Press "Dismiss"

Kantivo will suppress the notification until that interval expires, then remind you again at your next login.

Manual Year-End Close

You are free to initiate the closing process yourself at any point during the year:

1. Navigate to Settings using the gear icon
2. Locate the "Year-End Close" section
3. Choose the fiscal year-end date you wish to finalize
4. Press "Preview" to examine which accounts and balances will be affected
5. Confirm the income and expense totals look accurate
6. Press "Close Year" to post the closing journal entry to your local database

Reopening a Closed Year

Need to make a correction after closing? Kantivo allows you to reverse the process:

1. Head to Settings > Year-End Close
2. Look for the year under the "Closed Years" listing
3. Press "Reopen"

Kantivo removes the closing journal entry and restores the year to an open state, giving you full editing access again.

Editing Transactions in Closed Years

To safeguard the accuracy of finalized records, Kantivo includes built-in period protection:

• Attempting to record or modify a transaction whose date falls within a closed fiscal year triggers an on-screen alert
• You may opt to proceed (which automatically reopens that period) or cancel (so you can correct the date to a current period)
• This mechanism prevents unintentional alterations to books that have already been closed out

Common Scenario: Catching Up on Bookkeeping

If you find yourself recording prior-year transactions after the new year has started:

1. Kantivo will display a notice that the target year has been closed
2. Select "Continue" to reopen the period and proceed with data entry
3. After all backdated entries are recorded, the year-end close prompt will surface again upon your next login
4. Verify the revised net income and finalize the year once more