Close a period

An accounting period is a date range — usually a month — that you close as one. A Locked period rejects new postings dated inside it, so the reports for that period stop changing. The Periods page is in the Advanced view.

1. Choose Open period

   On the Periods page, choose Open period.

2. Name it and set the dates

   Fill in the Name (for example 2026-09), First day and Last day (inclusive).

A typical order for a monthly close:

1. Finish recording

   Make sure the month’s transactions are in, including recurring reminders that came due.

2. Decide approvals

   Check the Approvals page so no request for that month is still waiting.

3. Reconcile the bank

   Match each bank account’s statement and finish its reconciliation. See Reconcile a bank statement.

4. Run depreciation

   If you use fixed assets, run the month’s depreciation and its deferred tax under Fixed assets.

5. Check the reports

   Make sure the trial balance is balanced, then review the income statement and balance sheet. See Run reports.

Open the period and choose Lock period. The period page shows the entries posted, the total in the base currency and the budgets active in that range, as a last check.

Export the month-end reports to PDF or Excel. Every export is kept in Generated reports, so the team can download the same copy later.