CONTPAQi Contabilidad: Fiscal Year-End Closing Errors

Year-end accounting process: verify the trial balance, close income/expense accounts to zero, and transfer net profit/loss to equity. In Mexico, the fiscal year runs Jan 1 to Dec 31 (Art. 11 CFF).

Unposted journal entries, unbalanced trial balance, unclosed monthly periods, or entries already captured in next year.

Income (4xxx) and expenses (5xxx-6xxx) are zeroed out. Net result transfers to equity account 3030.

Yes. Processes > Reopen Fiscal Year. Back up first.