In this guide, we show How to Close a Period in the Finance Module.
Access: The minimum permissions required to Close a Period are found in the Finance Module section Config > Setup > Roles & Permissions.
Note: Once a Period has been Closed, it cannot be Reopened.
Related Guides:
To begin, go to Modules > Finance > Finance Homepage > Routines > Close Financial Period Process.
In the Close Financial Year Period window, click on Confirm Readiness.
If there are any unfinished Transactions or unfinished Processes, the system will display Warnings and/or Errors.
Warnings should be investigated, but can be ignored. It is possible to to Close the Period with outstanding Warnings. Click on the Link to be taken to the item that has generated the Warning.
Errors must be corrected before the Period can be Closed. Click on the Link to be taken to the item that has generated the Error.
If there are any Journals shown as Unposted, they can be moved to the next Period.
When ready to proceed, select Close.
Once complete, select Close this Period.
If needed, it is still possible to Abandon Period Close at this stage.
When happy, select Close this Period.
A Closed Successfully notification is displayed. Click Close.
If there is another Period available to close, this will be displayed. Or click Cancel to close the window.
