Phase 8: Close

Purpose

The Close phase zeroes out temporary accounts (revenue, expense, dividends) by transferring their balances to retained earnings, resetting them for the next accounting period.

Usage

/accounting:close <project>

Prerequisites

Financial statements must exist at .metapowers/accounting/<project>/07-statements.md.

What It Does

1. Identifies all temporary accounts (revenue, expense, dividends)
2. Creates closing entries to transfer balances to retained earnings
3. Verifies all temporary accounts have zero balances after closing
4. Produces a post-closing trial balance
5. Writes closing entries to .metapowers/accounting/<project>/08-close.md

Output

Creates .metapowers/accounting/<project>/08-close.md containing:

• Closing journal entries
• Post-closing trial balance (permanent accounts only)
• Confirmation that temporary accounts are zeroed