Closing a period

When a period is completed, it is possible to close it. By closing the period, the booking data is transferred to the financial administration for further processing. You can only close a period if all entries have been fully coded.

How do I close a period?

In the booking overview, select the book and the period you want to close and click on 'Close Period' at the top of the page. Make sure you have verified the coding of the entries before doing this.

Can't see this button? It may need to be added to your access rights. To do so, please contact the application manager within your organization.

After clicking on the 'Close Period' button, you will first receive a confirmation prompt to ensure you are certain about closing the period. This is because once a period is closed, you can no longer edit any entries. If you click 'Close Period' again, the period will be closed and forwarded.

What happens to the period after I've closed it?

The period will either be sent for assessment to the employee responsible for the book or, if you have the appropriate authorization, sent directly to the financial administration for further processing. If a colleague disapproves the closed period, you will receive a notification to make the necessary corrections.

If the period is closed by an application manager, it does not require assessment. The period is immediately ready for export to the financial package.

If the period has been approved, and you still need to make a change, you can contact your application administrator to do so. This is only possible if the period has not yet been exported to your financial package.

After closing the period, you will return to the booking overview. The following period will now be displayed, and its opening balance is automatically the closing balance of the previous period.

Conducting a Cash Count

When closing a period for a book in which cash transactions are recorded, it may be necessary to perform a cash count. It can be configured for each book whether this cash count is mandatory for closing. If a cash discrepancy is found after the count, you must justify this difference after clicking 'Save.' Once the cash count is correct and/or the cash discrepancy is accounted for, the closed period will be forwarded.

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