> ## Documentation Index
> Fetch the complete documentation index at: https://docs.filexpress.app/llms.txt
> Use this file to discover all available pages before exploring further.

# Accounting Periods

> Managing the lifecycle of fiscal year periods

Accounting periods define the fiscal year calendar and control which dates are open for entries. Closing a period protects the accounting information once it has been reconciled.

## Period statuses

| Status | Description |
| - | - |
| **Open** | Accepts creation and modification of entries in that date range. |
| **Closed** | Locked. Does not accept new entries or retroactive modifications. |

## Monthly close process

**1. Verify that all the month's entries are processed**

Go to Journal Entries and check that no drafts remain pending.

**2. Reconcile bank accounts**

Make sure the month's bank movements are reconciled.

**3. Review the reports**

Generate the Trial Balance to verify that the balances add up.

**4. Close the period**

Go to **Accounting → Settings → Periods**, find the month and click **Close Period**.

> [!WARNING]
>
> Once the period is closed, entries cannot be recorded or modified on those dates. Reopening a period should only be done for specific corrections.

## Reopen a period

If you need to correct something after the close:

1. Go to **Accounting → Settings → Periods**.
2. Find the closed period.
3. Click **Reopen**.
4. Make the necessary corrections.
5. Close the period again.


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