New Financial Year

Gimbla keeps your accounting records continuous, so there is no year-end rollover process to run. You do not need to close the old year, copy balances forward, or create a new file before entering transactions for the next financial year.

Instead, focus on making sure the finished year is complete and reliable. Once the final checks are done, set a lock date so earlier transactions cannot be changed by mistake.

💡 Need to know

  • No rollover needed: You can keep using Gimbla in the new financial year without running a special rollover step.
  • Keep entering new work: Invoices, bills, payments, journals, and bank transactions dated in the new year can be entered as normal.
  • Protect the old year: After your review is finished, use a lock date to prevent accidental edits to the completed period.

✅ End-of-year checklist

Work through these checks before you treat the financial year as finished. They help make sure your reports and accountant review are based on clean records.

  • Reconcile every bank account: Make sure your bank, credit card, savings, loan, PayPal, Stripe, and other clearing accounts agree with the real statements. Start with the bank reconciliations guide if any account still has a difference.
  • Review unpaid invoices and bills: Check that open customer invoices and supplier bills are still valid. Write off or adjust anything that your accountant or bookkeeper confirms should not remain outstanding.
  • Record depreciation: If the business owns assets, record the correct depreciation journals before finalising the year. See the depreciation guide for an example.
  • Check GST, VAT, or sales tax: Review tax codes on sales, purchases, imports, and adjustments so your activity statement or return matches the final records.
  • Review payroll and super: If you use payroll, confirm pay runs, PAYG withholding, superannuation, leave, and employee details before final reporting.
  • Check loans, assets, and liabilities: Confirm balances for loans, director or shareholder accounts, asset purchases, accumulated depreciation, and any clearing accounts.
  • Run final reports: Review the Profit and Loss, Balance Sheet, aged receivables, aged payables, general ledger, and tax reports for anything unusual.

🧭 Set the lock date

Once the year has been checked and you are comfortable that no more edits are needed, set a lock date for the final day of the financial year. For example, an Australian business would usually lock 30 June after the EOFY work is complete.

Settings → System → General Settings

1 Open General Settings and find the Lock Dates field.

2 Select the final date of the completed year, such as 30 June.

3 Save the setting. Gimbla will stop users from adding, editing, or deleting finalised transactions on or before that date.

For screenshots and more detail, see the set a lock date guide.

🖇️ Best practice

A lock date should be the final step, not the first one. Reconcile the bank, finish depreciation, check tax and payroll, review reports, and get any accountant or bookkeeper adjustments entered before you lock the year.

If you later find a legitimate correction, temporarily update or remove the lock date, make the approved change, then set the lock date again straight away.