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Finance → Accounting → Accounting Periods → /accounting-ledger/accounting-periods Finance → Accounting → Period close → /accounting-period-close An accounting period is a month (or a defined period) that can be open or closed. Posting is only allowed into an open period. Closing is what makes a reported number stop changing.

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Why periods matter

Without period control, a journal posted today can silently change last quarter’s profit — after it was reported to a board, a lender or a tax authority. Closing a period draws a line: history becomes read-only, and corrections have to be made deliberately and visibly in the current period.

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Managing periods

The periods list shows each period with its status. From here you can:
  • Close a period once its activity is complete.
  • Reopen a closed period, when a genuine correction requires it.
  • Select a period as the context for a close run or a report.
Reopening a closed period changes numbers that have already been reported. Treat it as an exception requiring sign-off, not a routine convenience. Both the close and the reopen are recorded.

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The guided period close

The Period close screen walks a formal close rather than leaving it to a checklist in someone’s head.
1

Before you start

Confirm your branch context and the period you are closing. Closing in the wrong branch is the most common mistake here.
2

Select the accounting period

Choose the period to close.
3

Continue to readiness

Move to the readiness stage.
4

Run the readiness checks

The screen runs a set of checks and reports what is not yet ready. Refresh checks re-runs them after you fix something.
5

Submit close

When the checks pass, submit. The close is performed and confirmed as Close completed; the period shows CLOSED.
The close is idempotent — submitting the same close twice does not double-post. The screen labels this as idempotent replay, which means a retry after a network failure is safe.

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Month-end sequence

The close is the last step, not the first. In order:
1

Finish billing

Recurring invoices generated, IoT billing runs posted, one-off invoices issued.
2

Capture all receipts

Every payment recorded, with references.
3

Allocate everything

Filter payments for available amount greater than zero and clear it. Unallocated cash distorts both receivables and the debt-aging report. See Allocations.
4

Record and pay expenses

Including attributing them to units and blocks so owner statements are complete.
5

Process adjustments

Credit notes, debit notes and any approved write-offs.
6

Reconcile the bank

Every bank line matched to a payment, expense payment, refund or disbursement.
7

Submit outstanding tax documents

Check the eTIMS queue for unsubmitted or rejected invoices. See Tax & eTIMS.
8

Review the trial balance

Look for accounts with unexpected balances or wrong-side balances before you close, not after.
9

Generate owner statements

Owner statements read the period’s data; generate them before the close so the figures are final. See Owner statements.
10

Close the period

Run the guided close.

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Posting after a close

Once a period is closed:
  • Postings dated into it are rejected.
  • A correction to a closed period is normally made in the current period with a clear description, rather than by reopening.
  • Where the correction genuinely belongs in the closed period — a statutory restatement — reopen, post, and close again, with the reason documented.

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Reversals and corrections

Posted journals are never edited in place. Corrections go through supported paths — credit notes, refunds, reversal-and-repost — so the audit trail shows what happened and what was done about it. The journal screens show the reversal journal link where one exists, and every posting carries a posting key so a duplicate event returns the existing journal instead of posting twice.

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Common problems

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Next steps

Financial statements

What you produce once the period is closed.

Chart of accounts

Where postings land.