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You are here: Ajera Help (A-Z) > Year-end > Close the fiscal year > About closing the fiscal year
Close the fiscal year at year-end when you want to close the general ledger year for your company.
When you close the fiscal year, Ajera creates entries with an accounting date equal to the close-year date to reverse balances from the Income and Expense accounts and write the difference to the Retained Earnings account.
The table in the Close Year window contains a row for each account and department combination from your chart of accounts. You cannot change information in the table. The Net Income column contains the difference between the debit and credit columns. If the Net Income is a gain, it appears as positive. If it is a loss, it appears as negative.
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