If you are unable to close a period in the new financial year, this is usually because the previous financial year has not been fully closed.
Until the prior year is closed, periods in the new year cannot be closed.
Check the status of the previous financial year
Go to System Set-up.
Click Financial Year Setup.
Review the status of the previous financial year.
Each year will show one of the following statuses:
Open.
Restricted.
Closed.
If the previous year is Open or Restricted, and it is appropriate to do so, you must close it before closing periods in the new year.
Opening future periods in the new financial year
You can open future periods in the new financial year without closing previous periods.
To open a future period
Go to System Set-up.
Select Financial Year Setup.
Locate the period you want to open.
Click the blue Padlock Open icon on the right-hand side of the period row.
Posting considerations
The current open period is clearly displayed in the top-right corner of the screen.
Users can still select earlier periods when posting transactions.
Opening a future period early will not cause posting errors.
If you are concerned about colleagues posting to the wrong period, monitor the currently open period displayed on screen.