Bank reconciliation, period lock and year-end

Bank reconciliation

Reconciling means ticking off each ledger entry that has actually appeared on your bank statement, so you can see exactly what hasn't cleared yet, such as cheques still in the post.

1. 1Open Accounts → Bank Reconciliation.
2. 2Choose the Bank Account (the ledger account, such as Bank Account) and set the Statement Date to the date of your bank statement.
3. 3In Uncleared Items, tick each entry that appears on the statement. The header tick box selects them all.
4. 4Click Mark Cleared. The entries are cleared as of the statement date.
5. 5Compare the Cleared Balance card with the closing balance on your bank statement. They should match.

Ticked something by mistake? Move the Statement Date back before its clearance date so it shows again, tick it and click Unmark.

Lock the books

Once a month or year is finished, lock it so nobody can change it by accident. Open Accounts → Acc Settings:

• Lock Date: nothing dated on or before this date can be posted, edited or deleted. You can move it forward or back.
• Hard Lock Date: the same, but it can never be moved back. Use it once a year's figures are final, for example after your tax return. You're asked to confirm before it's saved.

Click Save. Anyone who tries to change a locked document sees a message like Period locked: cannot modify a document dated 2026-03-15 (books locked through 2026-03-31).

Fiscal year settings

• Fiscal year starts in: the month your financial year begins, for example July. It sets the year shown in voucher numbers and the dates used when you close a year.
• Default Credit Days is stored for your records only. Invoices in ERP Nexl don't have due dates, so ageing always counts from the invoice date.

Close the financial year

1. 1Open Accounts → Acc Settings and find Close fiscal year.
2. 2Pick the Fiscal year and check the preview: Total Revenue, Total Expenses and Net Profit.
3. 3Click Close year and confirm.

Closing posts one closing entry on the last day of the year that moves the year's profit or loss into Retained Earnings, and sets the lock date to the year end. The year's Profit & Loss report still shows its figures.

If you need to change a closed year, click Reopen: the closing entry is removed and the lock date moves back to just before that year. A year covered by the hard lock date can't be reopened.

Exchange rates

Accounts → Exchange Rates stores rates between currencies by date: a From Currency and To Currency (three-letter codes such as USD and PKR), the Rate and the Date. There's one rate per currency pair per day. Rates are used by the FX Revaluation report.