Close a Financial Period

Objective

Close a financial period.

Close a financial period

1. From the On Key main menu, click Financial Management > Financial Years. The Financial Year dashboard opens.
2. Open the financial year and go to the Periods tab.
3. Select the Period that needs to be closed.
4. Use the Close Period custom action in the Assist panel in the sidebar. Save the record.

As a result

The financial period is closed.

Keep in mind

• You cannot close a financial period if there are periods before that have not been closed.
• A closed financial period cannot be reopened.
• You may want to close budgets that are linked to the period that has been closed.