Close an Accounting Period

If you want to close an accounting period, all prior periods must be closed.

Once an accounting period is closed, no further transactions may be recorded against it.

Note: When a period is closed, it or another previously closed period may be locked depending on the Period Lock configuration value set in System Configuration. Locked periods cannot be re-opened.

Close an accounting cycle

  1. Select Accounting Cycle from the Chart of Accounts menu, and the Accounting Cycle window opens.

  2. Click the Cycle Name link, or check the box for the accounting cycle, and click Edit. The Accounting Cycle Detail window opens with the Accounting Periods tab displayed.

  3. Check the box(es) for the accounting period(s) you want to close, and select Close Period from the More menu. You're asked to confirm the action.

  4. Click Yes. You're notified of successes & failures.

 

Return to Accounting Cycle Overview