Close a Period

OBJECTIVE

The Close a Period option prevents the entry of accounting transactions in closed periods. The system allows you to enter a transaction, but it cannot be transferred.

 

A period must be closed in projects before it can be closed in the general ledger.

It is impossible to close a period if the next period is not open or if the preceding period has not been closed.

You can select multiple periods by holding down the SHIFT key.

 

PREREQUISITE

 

Steps

 

maestro* > Accounting > Maintenance > Accounting > Close a Period

 

Close a period

 

The Verify the Trial Balance before closing each period field lets you check discrepancies. The system prevents the period from being closed if the slightest discrepancy is detected.

  1. Select one or more periods.
  2. Click Close Period.

 

A message is displayed if there are transactions that are not transferred for the period being close.

A confirmation message is displayed if the user tries to close an accounting period in the general ledger that has not been closed in the Projects module. If you answer Yes to the question Do you wish to close the project period now?, the system opens the Close a period option in the Projects module and allows the user to close the project period immediately and continue with closing periods in the general ledger. If you answer No to the question, the closing procedure is stopped. This function is only available if the user has access to the Close a period option in the Projects module.

 

Last modification: August 16, 2025