This option is available only in Latvia and Estonia

Taxes closing entries is the operation which automatically creates a manual journal to close all tax payable account balances to one tax settlements account at the end of the tax period.

Before going further you need to close VAT accounts.

To close tax account balances go to Accounting -> New Operation -> Taxes Closing Entries

Enter the date, select the account for tax settlements and click "Continue".

Select accounts that should be closed and click on the "Post" button.

A new manual journal will be created.