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  1. FAQ - Accounting & Finance Teams
  • December 22, 2022 21:32
  • Updated

What happens when I close a financial month?

Question:

  • What is the Closing Months option within the Settings used for?

 

Answer:

Closing Months option, within settings, prevents a user from submitting or approving a Bill if the invoice date is within a month that has been closed. This ensures that values can no longer be adjusted once that financial year or month has ended.

In a scenario where adjustments do need to be made, you can reopen the month(s) within Settings → Finance → Closing Months. Once the changes have been made, you can navigate to the same place within the settings to close the month(s) once again.

If an account has Bill Approval Routing disabled, users will not be able to submit a Bill against a Purchase Order within a month that has been closed and they will receive the following error.

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Additional Information:

  • For instructions on how to close months, see How to Close a Financial a Month.
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