Close books

Use the Close Books page to select the ending period for which you want to close the books. After books are closed, you can't post transactions in any application for any date older than the end of the selected period.

All open books are automatically closed when you close books for a subsequent period. For example, suppose you have closed books for Q1, but not Q2. If you close the books for Q3, the books for Q2 are closed automatically.

Closing the books should be a regular part of your period-end process. It prevents users from posting transactions to the wrong period and ensures that you can finalize your financials.

1. Go to General Ledger > All > Books > Close.

   The Close Books page appears.

2. In the To the end of period field, select the period you want to close.

   Closing a book always happens for the end of the month in which the reporting period ends. If you’re using custom periods, the period that you select for To the end of period might not close the books on the last day of the reporting period.

   Even though you can select any custom reporting period, closing a book is always done at month end. The selected reporting period determines for which month the close occurs. For example, if you select a custom reporting period that ends Nov 26, the books will close to Nov 30.

   If the reporting period is not listed, you can add it on the Reporting Period page. For details, see Create reporting periods.
3. If you're at the top level (in a multi-entity shared company), you can close periods for a specific Entity or entity group.

   If you do not specify anything in the Entity or entity group field, periods are closed for all entities.

   The only type of entity group you can select in this field is a location group that contains only entities. Location groups that contain a mix of entity and location members are not available. For information about creating location groups, see .

   If you close a period at the top level, it is also closed at the entity level, so you cannot post transactions to the closed period from either level. If you close the period for a specific entity, it is closed only for that entity. For example, you select a period to close and you select an entity. The period is closed at both the top level and the entity level, but only for the selected entity.

4. Select Close.

Close your books for any ending period for which you want to prevent anyone from making any further changes or transaction entries. You can also re-open the books if they were closed unintentionally.

To make an adjustment after you close the books, use the adjustment journal. (General Ledger > All > Setup > Adjustment). Go to Make adjustments to closed books—Adjusting journal entries for details.

If a period is locked, you cannot open it without first unlocking it. Also, you cannot adjust locked periods.

To restrict Open Books access to your accounting manager, controller, or CFO, you can set access permissions for them in the Company application.

You can access detail for a closed period at any time by opening the books. If your company has included it, you can also use the Closed through summary on a dashboard to see when books were closed.

Troubleshooting