---
title: "New Fiscal Year - Accounting Closing Entries"
canonical: "https://wiki.soft1.eu/space/SS5EN/1240006902/New%20Fiscal%20Year%20-%20Accounting%20Closing%20Entries"
format: markdown
---
In Accounting, **Accounting Opening Entries **and **Accounting Closing Entries** are the New Fiscal jobs that help you transfer account **balance **(2, 6, 7, 8 groups) to **effective accounts**, i.e. accounts whose balance is **not transferred** in the **next Fiscal Year**.
---
---
#### ➡️ Create Accounting Entries
To transfer the balance of accounts to effective accounts, use the **Accounting Closing Entries **job creating the necessary accounting entries *(Financials → Business Operations → New Fiscal Year jobs). *
:info: *Modify any data in the accounting entries that are automatically created by the job, and delete the entries if you wish to run again the ****Accounting Closing Entries ****job.**** ****You can delete from an Accounting entries' Browser/List, and repeat it as many times as necessary.*
---
#### ➡️ Sequential scenarios - Examples > Macro (anchor)
:check_mark: In the SOFT1 ERP setup, you will find **Closing Scenarios **already available which you can apply sequentially at the end of each Financial Year.
Use the **Accounting closing entries **job by selecting the following scenarios sequentially.
- Scenario 1 - 3000 - Transfer balances for groups 2, 6 & 7 to Operating results (80.00)
- Scenario 2 - 3001 - Transfer balance of Operating results to Gross Results (80.01)
- Scenario 3 - 3002 - Transfer balance of Gross Results to Year Results (86.00)
- Scenario 4 - 3003 - Transfer balance of Year Results to Year Profit (88.00)
- Scenario 5 - 3004 - Transfer balance of Year Results to Year Loss (88.01)
:check_mark: Based on Greek Accounting Standards, to ensure compliance with accounting and tax requirements, work as follows:
- Make the most of the **Accounting Closing Entries** job using the flow described in Scenarios 1 to 5.