NavigateERP for African business

Closing the month (month-end close)

Once a month's books are submitted, close it so nothing can be back-dated into it.

Steps

  1. Go to Accounting > Period close.
  2. Check Before closing: drafts, depreciation and bank reconciliations still open in the month (they are reminders).
  3. Choose the month in Close up to (earlier open months close with it), tick the confirmation and click Close month.
  4. From then on, nothing can be posted on or before the month's last day: invoices, receipts, payments, journals, stock, payroll, depreciation. Date it in the next open month instead.
  5. To correct a closed month, reopen the latest closed month with a reason, make the correction and close it again.

Good to know

  • Months close in order, after their last day.
  • Every close and reopen is in the audit trail and the month's history.