Accounting Periods & Period Control

You need access to Accounting → Periods. Creating, editing, locking, and closing require the “Manage accounting periods” permission; reopening a closed period requires “Reopen closed accounting periods”. Decide the Name and date range with Finance first. The dates cannot overlap another period, and the end date cannot precede the start date.

1. 1
   Open Accounting → Periods and create a new period. Enter its Name and choose its Start & End Date. Save it, then open the new period and confirm the displayed Start Date, End Date, and Open status.
2. 2
   When the team is ready to close that range, open the period and read the Period Closing Readiness Checklist. Investigate each draft, unmatched bank item, or reconciliation difference it identifies. Open the source record rather than treating the checklist as a box to tick.
3. 3
   Compare inventory, customer, supplier, bank, and general ledger balances at the same cutoff. Have the responsible reviewers resolve or explain differences before changing the period's status.
4. 4
   Select Lock Period only when the open-period review is complete. Reopen the period detail and confirm it now shows Locked. Ordinary posting for its dates is restricted while locked.
5. 5
   Select Review Period Close and work through the remaining checks for the close. Complete the close only after Finance has approved the balances and supporting evidence. Reopen the period and confirm it shows Closed.

Warning: A lock or close can block a late invoice, bill, stock movement, or correction dated inside the period. Confirm all teams have finished their entries before taking that step.

1. 1
   Open the affected period and confirm its status. For a Locked period, select Reopen Period if the review supports more posting.
2. 2
   For a Closed period, use the separate authorized reopen action and enter a meaningful reason. Keep the correction request and approval with the period's records.
3. 3
   After reopening, confirm Open status, make the supported correction against its source document, and review the resulting journal and reports.
4. 4
   Run the readiness checks again before locking or closing the period a second time. Review the audit history for the reopen and subsequent changes.

The detail page shows Open, Locked, or Closed. Reopening a period does not erase earlier journals or undo the review trail. Compare the new trial balance with the version Finance approved before the correction so the effect is explicit.

If Lock Period is unavailable, check that the period is still Open and that the checklist's blocking drafts have been addressed. A close follows a lock, so a period that is still Open is not ready for the close action. If a transition is refused, read the named checklist item and resolve its source record. If the date range overlaps another period, correct the dates before saving.