Accounting Periods and Year Close

Use Accounting > Periods to control posting dates and close reporting periods. These operations affect which accounting entries can be posted; they should be performed by the responsible accounting user.

Create a period

1. Select New Period.
2. Enter a recognizable period name and start/end dates.
3. Confirm the range does not overlap an existing period.
4. Save and inspect its Open status.

Once periods exist, closed or locked periods can block posting for their dates. A posting failure should not be bypassed by changing an invoice to an incorrect date.

Close, lock or reopen

Before Close, reconcile the period and review pending documents and reports. Select the intended period, use the action and read its confirmation. Lock is a distinct restriction; Reopen is available only when authorized and supported for that state.

Close Year transfers the period's profit/loss to retained earnings through the supported year-close workflow. It is not interchangeable with simply closing a month. Review the confirmation and resulting entries with the responsible accountant.

Verify and troubleshoot

Reload the period status, inspect relevant journals/reports and confirm later postings use the intended open period. For overlap or posting errors, check date boundaries and current period status. If a close action times out, inspect status and journal history before retrying.

Do not reopen a finalized period merely to make an unexplained discrepancy disappear. See Discrepancy Checks, Reports and Journal Entries.