Once you have completed the month's postings, prevent any further postings to that period by closing the period.
- In the Set-up menu, click Periods.
- Find the line for the period you want to close, and select Sales Closed and Purchase Closed.
- Click Confirm.
Once you have finalized your month-end you can close off the period completely, by setting it as inactive.
- In the Set-up menu, click Periods.
- Find the line for the period you want to close, and clear Active.
- Click Confirm.
Set up and activate new periods
Note: The following notes are important. Not setting up periods, or activating periods at the wrong time, will put transactions in the wrong period, and you may be charged to correct your data.
- It is essential that a new period is set up before any entries are added to Horizon that have a date within that period. We recommend using Add New Year to prepare for the financial year. As part of your month-end, periods should be selected as Active before the start of the period and made inactive (by clearing the Active option) at the end of the period.
- If new periods are not created in time for the new period's entries to be created, the year and period will be picked up from the Financial tab in Company Set-up. This setting should also be updated at month-end.
- VAT quarters must be created (Set-up > VAT) and should be closed or opened at quarter-end.
See Also
