Period-End Close
Run monthly profit and loss close or annual profit close from one place, using the remaining balance to calculate the amount.
See what this module handles, how to review it and how its results reach the ledgers.
Use one entry point for monthly and annual close
Monthly profit and loss close and annual profit close share one entry point. Select the period and create the voucher from the account's actual current balance; the two actions still serve different accounting purposes.
Calculate the remaining amount when you run close again
If part of the amount has already been transferred, the system calculates the remaining balance. No new close voucher is created when nothing remains, and later adjustments use the same entry point to process the actual difference.
Review each close voucher in the accounting records
The voucher service writes the close to the accounting records. After posting, review the period, amount and related entry in vouchers and ledgers; a new close does not overwrite a posted historical voucher.
Handle other period-end work in its own module
Payroll accrual, depreciation and inventory costing are reviewed and recorded in their own modules. Period close transfers profit and loss balances; it does not replace those business calculations.
