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How To Close Accounting Period

How To showing how to close an accounting period.
  • Last Update:2016-02-09
  • Version:002
  • Language:en

Closing an accounting period is possible only when all the transactions of the accounting period are either closed or canceled.

Table of Contents

Steps

So the first step is to make sure of it. You might be interested on learning How to perform worflow action on many documents in one single action.

Once every transactions are either canceled or closed, you can then close the accounting period. The procedure goes as follows:

  • Go to the organisation document related to your company: 'Module' >> 'Organisation'
  • Once on your organisation document, click on the 'Financial informations' Tab
  • On the 'Financial Informations' tab, click on the accounting period you want to close
  • You can now close the accounting period: 'Action' >> 'Temporarily Stop Accounting Period'
  • Close definitely and create automatically the 'opening transaction': 'Action' >> 'Close definitely the Accounting Period'
  • If all transactions are not either canceled or closed, you will get an error message, otherwise you can continue

  • Choose the account in which will be put the profit or loss for the accounting period which is closed and click on 'Stop Accounting Period'
  • Modules Menu Screenshot

Your accounting period is closed and a transaction is automatically created to set up initial value of the new accounting period.

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