To edit a transaction from a past accounting period, open all accounting periods after that date. You can open or close up to 12 accounting periods at a time.

1. Navigate to Accounting Home and under General Ledger Setup, click Accounting Periods.

2. Choose the Closed Accounting Period list view.

3. Select the Accounting Periods you wish to edit by checking the checkbox.

4. Double click in the Status field column beside one of the selected periods.

5. In the Edit Status pop-up window, change the Status to Open and select the radio button to change all of the selected records.

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Note: Accounting Periods must be opened in chronological order, starting with the most recent closed period.

6. Click Save.

7. An email confirmation that the period has been closed will be sent to the email address registered with Salesforce.

8. You can now make edits to the transactions as necessary and repost them.

9. Repeat these steps to close the Accounting Periods.

 

Please note:

  • Closing the current period is necessary to report an accurate balance sheet for the month, but not necessary to report an accurate profit and loss report or trial balance. These reports can be run in the current month without closing the period.
  • Only one accounting period or group of accounting periods can be closed at a time. If you try to close an accounting period or a group of accounting periods while others are in the process of being closed, you will receive an error message.
  • You cannot have prior accounting periods open while closing an accounting period. For example, if you are trying to close period 2018-12, 2018-11, any period before that cannot have a status of Open.

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2 Comments

  • 1
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    Skye

    If I have to adjust transactions in period 2016-01, I'll have to open then close all 12 periods every time an adjustment is required? Is there a way to mass open and mass close accounting periods?

     

  • 0
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    Steve Usmanov

    Hi Skye! Yes, you can open and close up to 12 accounting periods at a time.

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