Closing financial periods

You can close a specific financial period to ensure that no more transactions are entered in that period.

Procedure

  1. In the Chart of Accounts application, select the organization for which you want to close a financial period.
  2. Select the Financial Periods action.
  3. In the Financial Periods window, specify the actual close date for the financial period that you want to close. Your name is displayed in the Closed By field.

Results

After you close a financial period, financial transactions for that period are no longer accepted.