Run period and year-end close

Define your accounting periods, run any foreign-currency revaluation, then lock a period once it is complete and run the year-end close at the end of the financial year.

Before you start

• Pick the company you are working in and the Scope level for the period.
• Reopening a period and the year-end close are approval-controlled actions.
• Have your exchange rates in place if you rely on foreign-currency revaluation at period-end.

[screenshot: Periods list with the “Open period” form]

Steps

Open a period

1. Open Accounting → Periods and open a new period.
2. Enter the Period code (required, up to 20 characters).
3. Set Starts on (required) and Ends on (required — must be on or after the start date).
4. Save the period.

[screenshot: Open period form with period code and start/end dates]

Revalue foreign currency

1. Go to Accounting → Period-End and choose the period.
2. Use Preview reval to see the revaluation by account (carrying, revalued and adjustment amounts), then run it to post the adjustment.

[screenshot: Period-End tab showing the FX revaluation preview]

Close and reopen a period

1. From the Periods list, Close a period once it is complete to lock it against further posting.
2. To make changes again, use Reopen (approval) — this raises an approval request.

Run the year-end close

1. On the Period-End tab, pick the Financial year and use Preview to review the year-end result and equity movement.
2. Run the close to complete the year-end (approval-controlled). If needed, Reopen a completed year-end, which is also approval-controlled.

Result

Periods are opened, revalued and locked in order, and the year-end close finalises the financial year with the appropriate approvals recorded.

Related

• Accounting reference
• Manage exchange rates
• Consolidate group entities