Closing an accounting period

In Office Maker Finance, we don't talk about closing an accounting period, but rather creating a new period. Account balances are calculated in real time. Documents such as Balance sheets, Income statements and General ledgers can be printed at any time, without any prior operations.

When all entries are locked, the word “Provisional” disappears from the document header.

You can also choose to lock the entire accounting period. Locking  is normally requested at the end of the financial year, after the accounts have been revised and the final accounts closed. It has the effect of “fixing” the year's data definitively, by preventing the addition or modification of records in all files. This allows you to open files from previous years for consultation without the risk of accidentally modifying them.

Locking the accounting period is irreversible !

The next accounting period can be created before the old one has been locked. Balances can still be updated at a later date. You'll find the New Period  and Update Period  commands in the File menu.