In this guide, we show How to Close a Period (and Reopen a Closed Period in Restricted Mode) in the MAT Finance Module.
Access: The minimum permissions required to Close a Period (and Reopen a Closed Period in Restricted Mode) in MAT Finance are found in the MAT Finance Module section of Config > Setup > Roles & Permissions.
How to Close a Period
To begin, from the left Menu, go to Finance > Routines > Period Maintenance.
In the Period Maintenance page, the status of the Periods that make up that Financial Year can be viewed. In the example below, Period 1 has been closed while the remaining Periods in the Financial Year are Open.
To Close a Period, click on the Calendar Icon in the Period to be Closed.
In the Close Period pop-up, the option is given to Close Purchase Ledger, Close Sales Ledger, or Close Ledger Codes.
To Close the Period, tick Close Ledger Codes. This also ticks Close Purchase Ledger and Close Sales Ledger.
Clicking on Confirm Readiness opens the Confirm Readiness for Close Period pop-up. This pop-up displays any Warnings and/or Errors.
Warnings should be investigated, but can be ignored. It is possible to to Close the Period with outstanding Warnings by clicking on Promote Journals to next period.
Errors must be corrected before the Period can be Closed.
If there are no actions required, the pop-up can be closed by clicking on the cross at the top right, as in the example below.
Then to Close the Period, click on Close Period.
If there are Journals to be promoted to the next period, click Promote Journals to next period. Otherwise, click Close Period.
The Period is now shown as Closed.
Clicking on the Clock Icon under Actions brings up the Audit History pop-up.
How to Reopen a Closed Period in Restricted Mode
This feature allows for the reopening of closed Periods in a Restricted Mode. This enables controlled adjustments to Journals or Ledgers without reopening the Period to all users, maintaining both flexibility and data integrity.
Only users with access to the correct Period Maintenance Roles and Permissions will have visibility of the reopened period. Users without the correct roles and permission will continue to see a Closed Period.
To begin, click the Calendar Icon in a Closed Period.
A pop-up confirms the Financial Year and Period, and that the Period will be placed in Restricted Mode. Click Open to Open the Period.
Heed the warning in the pop-up, and either click Cancel or Continue.
To finish the process, the correct Password must be entered in the pop-up. The Username is filled in automatically and cannot be changed.
After entering the correct Password and clicking Confirm, a Confirmation Message is shown in the top right of the screen.
The Reopened Period is now shown with as Status of Open (Restricted).
An Open (Restricted) Period can be closed by clicking the Calendar Icon and following the process outlined above.