A closed month stays closed, from every door
Close a period and nothing posts into it again, whether it comes from sales, purchasing, stock, the till or a rep’s van. Reopen it when you need to, in order, or lock it for good.
- Bill date
- 28 February
- Period
- February, closed
- Posted from
- Purchasing
- Stock moved
- Nothing
Refused · Refused: the period does not accept postings until it is reopened
A period’s life
Generate the year
Each subsidiary’s fiscal year is split into periods from the month its year starts.
Soft close
Postings stop while you review the month.
Close
Refused while any journal is still a draft or debits and credits differ. An unreconciled bank account is flagged but does not stop you.
Lock
A locked period can never be reopened.
Close the year
The year-end close posts one closing journal to retained earnings, once every earlier period is closed.
Details that matter
In order
A period cannot close while the one before it is open, and cannot reopen while the one after it is closed.
Checked before anything moves
A document dated in a closed period is refused before stock moves or any other effect runs.
No period, no posting
A posting dated where no period exists is refused too, until that fiscal year is generated.
Questions buyers ask
Can we reopen a closed month?
Yes. A closed period steps back to soft closed and then to open, as long as the next period is not closed. A locked one cannot.
Do the till and the vans respect it?
Yes. Till shift journals and the van’s end-of-day cash close post through the same check as everything else.
What does the year-end close post?
One journal in the year’s last period that moves the year’s profit and loss into retained earnings.