Closing a financial period
In order to report your financial data per period, you can close financial periods in Planon. You can do this by setting a closure date on the financial year.
Procedure
1. Go to Financial years.
2. On the action panel, click Close financial period.
3. Enter the required closure date in the Enter values window. By default, the last day of the current month is selected in the Closure date of latest financial period field. Click OK if you want to use this date. If required, you can select another date in this field. Planon now checks if there are still open contracts in this period.
 | You cannot close a financial period if there are still open contracts in the period you want to close. Always check if all contracts are closed (see Closing amounts) before closing a financial period. Please note that all contracts - including non-lease accounting contracts must be closed. |
 | Not all contracts are included in this check, for example contracts that end before the specified closure date and for which amounts have already been closed. If an amount is changed for such a terminated contract, you must close the amounts up to a later date than the last closure date of the financial year. |
All financial data related to your contract is closed until the specified closure date.
◦ Changes made after the closure date are recorded as a supplement in the first open financial period, with the start date end date of the open period.
◦ If a contract is activated before the closure date, the financial closure date is entered when activating the contract. If the activated contract is linked to a lease accounting contract line, the accounting closure date is entered.
◦ The financial closing of periods cannot be used in combination with 'frozen contracts'.
| | After closing a financial period, the contract manager can clean up related journal entries to limit the number of items in the elements list. For more information about cleaning up journal entries, see 'Deep archiving journal entries' in Budgets . |
◦ In some cases it may be necessary to reopen a closed financial period. For more information, see Reopening a closed financial period.