Close the month

Closing a month locks it: nothing more can be posted into it, so its figures stop changing. Closing the month is part of the Business plan, so it is included in your trial.

Start the close

On the month's last working day, at the end of the day, Loopency opens the month's close for you and puts it in your My work. It is due by the tenth working day of the next month.

To start it yourself:

1. Open Finance from the rail, then Settings, then Accounting Periods, and open the month.
2. Choose Start Period Close. Pick when it must be done by, and confirm.

Work through the checks

The bar at the top of the close shows its checks, in order:

1. Cut-off announced: tell your team the month is closing, then tick it.
2. Journals in the month posted, Every till closed, Every business day closed, Bank lines matched and Close tasks done tick themselves when your books say so. If one does not, the bar shows what is still open. Fix it, or write why under Why it is complete anyway and choose Complete anyway.
3. Close the month: choose Complete on the close, then confirm.

The month is closed and locked, and you are told that its reports are ready.

Next: When the trial ends.