Managing Close-Off Dates Tutorial

Overview

The Financial Close-Off Date function allows you to lock financial periods, preventing any changes to transactions on or before this specified date. This is essential for maintaining data integrity once a period has been finalised, ensuring accurate reporting for completed periods and compliance with accounting standards. Use the Close-Off Date feature to maintain reliable historical data and support accurate financial statements. Only authorized users can change the Close-Off Date.

In this tutorial, you will learn how to open and close the Financial Close Off Date. 

Navigation: Main Menu > Accounting > Transaction Close Off Dates.

How  to Manage the Close Off Date

Select a Close-Off Date

1. 1. Select a Transaction > Select a Date from the calendar in the dropdown in the Date column. 

   2. Click Save (button)

Batch Update a Close-Off Dates

1. 1. Choose the date next to Update - Date. This date is usually set to the last day of a reconciled period (e.g., month-end or year-end).

   2. Multi-select (Ctrl + A) Transactions > Click Update (button). 

   3. Click Save (button)

How to Amend or Remove a Close-Off Date

1. Navigate to the function Transaction Close Off Date.

2. Change the Date:

   1. Click after the Date and use the backspace key to remove the Date completely > Click Save (button), or

   2. Overtype / select the Date with a different date.