Close Accounting Periods
Close and lock finished periods so nothing can be posted into them, and reopen one with a recorded reason when a correction is needed.
Closing a period stops anyone posting journal entries dated inside it, so the figures you have reported stay put. Periods are optional: until you add one and close it, posting is unrestricted.
Adding a period
- Go to Accounting → Periods and click New Period.
- The form suggests the month after your latest period. Change the Name, From and To (inclusive) dates if you work in quarters or another cycle.
- Click Create Period. A new period starts open, so nothing is blocked yet.
Periods cannot overlap.
Open, closed and locked
| Status | What it means | Who can change it |
|---|---|---|
| Open | Posting is allowed. | Admins and managers can Close it. |
| Closed | Creating or posting a journal entry dated in the period is refused, including intercompany entries. | Admins can Reopen it for corrections, or Lock it. |
| Locked | Closed permanently. It can never be reopened. | Nobody. |
Lock a period only once its books are final, for example after year-end accounts are filed.
Reopening a period
Click Reopen and say why. A reason is required and is shown under the period's name with the date it was reopened, so there is a record of every time closed books were opened again.
What happens to invoices, bills and payments
Your team can keep working while a period is closed.
- A document dated in a closed period is posted with today's date instead, and the journal entry notes the original date.
- If today is also in a closed period, the document is saved and its posting waits. It shows Not in the ledger until the period is reopened, then posts by itself within ten minutes.
The page warns you when you try to close the period that includes today.
Finding periods
The counts at the top (All periods, Open, Closed, Locked) filter the list. Each row shows when the period was closed and locked.
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