Close the month

Fiscal periods apply across company Accounting entities. Open Accounting > Periods to generate a fiscal year and review each module’s status. Project Financials has its own project workflows and permissions.

An unrestricted accounting controller configures the required close modules and checklist. Prepare the required evidence, have a different authorized user approve it, then close the applicable scope. The app rechecks its current evidence before close; if the evidence changed, prepare and review it again.

The next fiscal year’s calendar is generated automatically 60 days before the current one ends, and the Accounting home warns if the calendar is about to run out. Close fiscal years in order. After the year-end close, the year takes no further postings; to post a late adjustment, use Reverse year-end close on the Periods page, which needs a second approver at or above the approval threshold, then close the year again. A wrong allocation run can be reversed from its journal entry.

Companies with several entities can add one elimination entity in Settings (it takes only consolidation and intercompany entries). At a period end, Eliminate intercompany on the Periods page posts the due-to/due-from eliminations for every pair of entities in that book, reversing them the next day. It refuses while any pair of entities disagrees, or while intercompany lines with a balance name no counterparty entity. Running it again returns the standing entry if nothing changed, or replaces it.

A missing required adapter is unavailable, not a successful reconciliation. Historical AR close coverage is not yet certified; WIP ties out against the posted WIP snapshot. A controller can reopen an eligible period with a reason, subject to the existing permissions and ordering rules. Reopening a hard-closed period or module takes two people with close-period permission: the first reopen records a request, and a second user submitting the same reopen confirms it. A soft-closed period reopens in one step. Check the displayed blockers rather than assuming every module can be closed automatically.

Besides the integrity checks, a hard close waits for work dated in the period: auto-reversals and recurring journals that are due, AP bills awaiting approval, draft payment runs, bank transactions awaiting approval, each active bank account reconciled through the period end, every reconciliation finished and reviewed by a second person, and the period’s depreciation run. Each blocker links to where you clear it. A released payment run whose NACHA file was never generated shows as a warning.

Open reopen requests are listed on the Periods page (and in Approvals) with who asked, the reason and when the request expires. A different controller confirms with Confirm reopen, which submits the same module and cascade.

Every night the integrity checks and subledger tie-outs run for the previous day. The latest result shows on the Periods page, and controllers get an email when a check fails or when the daily recurring and auto-reversal job fails. If the period balance snapshots that reports read drift from the journal lines, the integrity check names the rows; Rebuild period balances recomputes them with an audited reason.