Use the Close an Accounting Period window to close an accounting period. Closed periods can be reopened.
When a period is closed:
any prior open periods (dated before the period being closed) are also closed
postings are no longer applied to it
except for:
postings generated by the cost cascade, for example when an inventory receipt is billed and estimated COGS postings in a closed period are updated with the actual cost
postings made by users with security permission to Closed Accounting Period-Allow Post (see last bullet point below) - the period is closed to "regular users" but the accountant or controller can still make a few manual entries to finalize the period without having to reopen it
Tip
There is a config option that will prevent MOST postings to closed periods (including ones made by the cost cascade but excluding those made by users with permission to post to closed periods). Postings would be dated as of the first day of the first open period. Contact your CSC to discuss having this config item turned on in your database and the implications it can have on subledger balancing.
It’s not necessary to close one fiscal period before posting to the next fiscal period, and closing the last period in the year does not automatically close the fiscal year. Financial reports related to a period can run either before or after the period’s closing.
You can have several periods open at once, but agrē does require that periods are closed in chronological order. For example, before you can close fiscal period 2027-02, you must first close fiscal period 2027-01.
You cannot close:
the current accounting period.
an accounting period in the future.
To close an accounting period
Navigate to General Ledger > Close an Accounting Period.
The Close an Accounting Period window opens.
From the Fiscal Accounting Period list, select the accounting period to close and then click Close Period.
agrē automatically closes the period as well as any open periods before this period. If the Closed? check boxes for the accounting periods are checked, the periods are closed.
Note
The Close Period button is not available if the accounting period cannot be closed due to some condition.
(optional if you have permission to post into closed periods) Select Allow Post if postings can be made into the closed period by those with security permission.
The period remains closed, but is flagged to allow postings made by secured users. Postings can be made into only the last closed period, not prior closed periods. Postings cannot be made into closed periods if they are in closed fiscal years.
Click Restrict Post to return to preventing postings in the closed period even by those with security permission.