Manage Financial Periods

Financial periods define the time ranges for your accounting data. Only one period can be active at a time. Closing a period locks all transactions within it from further editing.

Steps

1. Go to Financial → Periods in the sidebar.
2. View the list of existing periods and their statuses (Open or Closed).
3. To close a period, click on the period row → confirm the closure when prompted.
4. To create a new period, click New Period and set the start and end dates.

Tips

• Only one period can be active at a time.
• Closing a period is permanent — all transactions within that period become locked and cannot be edited.
• Create new periods on a monthly or quarterly basis depending on your reporting needs.
• Close periods in chronological order to maintain accurate financial records.
• Make sure all transactions are reviewed and finalized before closing a period.