Close a month

Screen /period-close · Roles: Admin, Account Manager, External Accountant · Requires the Finance suite

Closing a month freezes its ledger: any posting dated into a closed month is rejected, and corrections ride a reversing entry in the open period instead - so a figure someone was told can never silently change afterwards. Owner and investor statements generate for closed months only. Until you close your first month, they have nothing to report on.

1. Post the owner accruals first. The Month-end owner accruals panel posts the management fee and the owner cost recharge for each managed unit. These entries are dated inside the month, so a closed month refuses them - post, then close, never the other way. Pick the month and click Post accruals (this needs the money-recording capability - typically your Account Manager).

2. Post depreciation, if you registered assets. The Depreciation panel is a separate posting for the same reason: it answers a different question (what your own assets cost you, not what the owner is owed), and a month can need one and not the other.

3. Restate foreign-currency balances if you hold accounts in more than one currency - the FX panel offers Restate for the month being closed.

4. Click “Close a month” (Admin), pick the month, and optionally leave a note (e.g. “Reconciled against bank statement”). Only finished months are listed - the month you’re still writing into is never closeable. The confirmation spells out the consequence: postings dated into the month will be rejected from then on.

5. Read the reports off the closed month. The P&L, owner statements, and investor statements now describe a month that can’t shift under them.

Reopening - possible, and deliberately loud

Every closed month in the Close history has a Reopen button (Admin). Reopening is a recorded event, not an undo:

• The original close stays on the audit trail, and the reopen is written next to it.
• Any statement already issued for that month was computed on the figures as they were - reopening doesn’t recall it.
• When you re-close, a new row is added; a reopened month shows in the history as its own entry with a Reopened status.

Reopen to correct, then close again promptly

While a month is reopened, postings dated into it are accepted again - which is the whole point, and also the risk. Make the correction, then close the month again so statements and reports return to a frozen base.

Late revenue doesn’t disappear

A booking night that arrives after its month closed isn’t lost: the recognition sweep clamps its posting forward into the first open month. The night keeps its true date; only the posting moves.

What’s next

• Read the results: Read your P&L.
• Run the money out: Run an owner payout.
• Hand off the closed books: Export for your accountant.