The Close Periods feature allows accounting teams to lock a financial period, preventing any backdated entries and ensuring data integrity once a period is finalized.
What this feature does
Prevents entries from being recorded before a defined “closed period” date
Automatically adjusts posting dates for late or unposted transactions from the approvals page
Restricts who can update the closed period (Accounting Admin only)
Tracks who last changed the closed period and when
Why it matters
Ensures accurate financial reporting
Eliminates accidental backdating
Keeps accounting periods clean and final
How to Use Close Periods
Where to find it
Go to Financial Settings
Open Company Information
Locate the Closed Period section
Set or update a closed period
Click Update
Select the date you want to close the books up to
Confirm the change
Only Books Admins can update this setting.
How It Works
Once a period is closed:
Users cannot create or edit entries dated before the closed date
Dates prior to the closed period are disabled in date pickersIf transactions are not yet posted they are automatically moved to the next valid date (after the closed period)
System enforcement applies across:
Journal entries
Charges
Payments
Bills and Invoices
FAQ
Can I still enter transactions for a closed period?
No. Any transaction dated before the closed period will be blocked.
What happens to transactions that were created but not posted yet?
They will automatically be posted on the next available date after the closed period.
Who can change the closed period date?
Only users with Books Admin permissions can update the closed period.
Is there an audit trail?
Yes. The system tracks:
Who last updated the closed period
When the change was made