Fiscal periods, close, and reopen
Set your fiscal year, close months and years so posted history can’t change, and reopen a period with a recorded reason when a correction is necessary.
- Plans
- Core and above
- Availability
- Available
- For
- Accountants, Owners
- In KontoCore
Accounting → Fiscal periods
What this does
Closing a period blocks new postings dated inside it. Year-end close rolls net income into retained earnings automatically — no closing entry needed.
Reopening is allowed for authorized users, requires a reason, and is recorded. Reports for a closed period stay reproducible.
How to
Close a month
- 1Open Accounting → Fiscal periods.
- 2Review the readiness checklist: reconciliations, unreviewed items, drafts, open issues.
- 3Choose Close period and confirm.
Reopen
- 1Select the closed period → Reopen.
- 2Enter a reason; correct, then close again.
Statuses and lifecycle
| Status | Meaning |
|---|---|
| Open | Accepts postings. |
| Closed | Locked; postings blocked. |
| Reopened | Temporarily open with a recorded reason. |
Corrections, voids, and reversals
- Prefer posting corrections in the current open period; reopen only when the prior period must change.
Permissions
- Close and reopen are restricted to owners, administrators, and accountants.
What happens in your books
Closing posts nothing. Retained earnings are derived at year boundaries.
Common mistakes
- Reopening a filed tax period without coordinating with your tax preparer.
Troubleshooting
“Period is closed” when saving
The date falls in a closed period. Change the date or ask an authorized user to reopen.
Related articles
Period close and opening balancesClose months and years, control reopening, and enter opening balances when starting clean.General ledgerBrowse every posted entry by account and date, drill from balances to source documents, and understand how each transaction reached the ledger.Financial Truth and Books HealthHow KontoCore continuously checks your books with deterministic controls, evidence, and findings — and where AI assistance fits.ReportsWhat the profit and loss, balance sheet, cash flow, and aging reports tell you — and how to drill into source records.
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Last reviewed October 6, 2026