Closing the year and preparing financial statements for an sp. z o.o.

Open Accounting → Financial statements to prepare a statement from the company's books and close the year after approval. Financial statements are separate from the CIT-8 and JPK_V7.

Norman prepares unsigned XML for a small entity under annex 5, in PLN, using SFJMAZ(2). Signing, approval by the appropriate body and filing with the KRS take place outside Norman. Year closed means that the books are locked in the app; it does not confirm KRS acceptance.

1. Review the books

Select the right company and its actual financial year, which can differ from the calendar year. In the general ledger, reconcile:

• documents and operations waiting for review or posting;
• bank and cash balances, customer receivables and supplier payables;
• opening balances, inventory, fixed assets and depreciation;
• accruals, provisions, exchange differences and income tax;
• completeness of revenue and costs, and equal debit and credit totals.

Equal totals alone do not prove completeness. Add missing entries and resolve review items before closing.

2. Create a draft and choose the comparison

Click New statement, enter the year start and end, then Create draft. Under Scope and comparison, choose the entity category and previous period.

XML export and closure currently support the small-entity scope. Confirm eligibility and the required decisions on simplifications. Do not select it just to enable export. Micro entities, other structures, mandatory audits or additional required statements need a wider workflow.

For the first year, leave the comparison empty, explain the missing history in the notes and select the first-year checkbox under XML and closing. The year must start on the business start date, with no earlier entries. A company migrating existing books needs comparative data; being new to Norman does not make it a first-year company.

3. Review the balance sheet, result and notes

Check Balance sheet and Profit and loss. Refresh figures reads the latest books. Missing comparative data does not mean zero.

Under Notes, complete and save five sections: company information, accounting policies, disclosures, profit allocation or loss coverage, and going concern. Review prefilled text. Read and complete an AI suggestion with the company's facts before applying it.

Include every applicable disclosure required by the reporting structure, not just a general description.

The draft CSV is for review with your accountant. It does not replace the XML to be signed.

4. Prepare and validate the XML

Open XML and closing:

1. Enter the address, preparation date, average employment and accounting policies. Save the company name, NIP and 10-digit KRS in the company details. The KRS field is under Invoices → Settings → Business details; NIP is also under Account → Taxes.
2. Review the statutory balance-sheet and income-statement lines. Split settlements, including trade receivables and payables due within and after 12 months. An account balance cannot establish maturity or every disclosure. Check zero lines too.
3. Confirm the scope, going concern and completeness of the review. Answer the audit and additional-statement questions according to the company's circumstances.
4. Click Save and validate XML. Resolve each reported issue. Totals and profit must reconcile to the books.

Download the XML after validation passes. If data or books change, save and validate again. Validation checks the XML structure and app reconciliations; it does not replace content review, signatures or a filing receipt.

5. Sign, approve and file

The usual deadlines are 3 months after the balance-sheet date for preparation and 6 months for approval. Final closure of the books is due within 15 days of approval. Accounting Act, articles 12, 52 and 53.

Arrange the required electronic signatures: qualified, trusted or personal. A company in the register of entrepreneurs files through the KRS system. MF guidance on signing and submission.

File the signed statement and required attachments with the KRS, generally within 15 days of approval. Missing the approval deadline does not remove the filing obligation. MF guidance on documents and filing.

Keep the signed file, resolutions and KRS confirmation. Norman does not send this package or confirm its acceptance.

6. Close the year in Norman

After actual approval, open Final closure of the books. Enter the approval date, confirm the lock and click Close year. The date must be after the period end, on or after preparation and no later than today.

Norman preserves the statement and XML, closes income and expense accounts to 860, numbers the journal and locks postings through the period end. There is no undo for this closure in the app.

Balance-sheet accounts carry forward as opening balances without duplicate entries. Revenue and expense accounts start the next period at zero. Profit allocation or loss coverage needs a separate resolution and posting.

If a step is blocked

See also Exporting data for your accountant.