Period close and opening balances
Close months and years, control reopening, and enter opening balances when starting clean.
- Plans
- Core and above
- Availability
- Available
- For
- Accountants, Bookkeepers, Owners
- In KontoCore
Accounting → Close
What this does
Closing a period prevents changes to posted records dated in it. Reopening requires authority and is recorded in the audit history.
At year end, net income rolls into retained earnings automatically on reports.
Opening balances record each account’s balance on your start date when you don’t import full history.
How to
Close a month
- 1Reconcile every bank and card account.
- 2Clear the transaction review queue and Books Health findings you intend to resolve.
- 3Post adjusting entries.
- 4Review P&L and balance sheet.
- 5Accounting → Close → Close period.
Enter opening balances
- 1Choose a start date, typically a fiscal year or month start.
- 2Enter balances for bank, receivables (by open invoice), payables (by open bill), assets, liabilities, and equity.
- 3Confirm the trial balance agrees with your prior system or accountant’s report.
Common mistakes
- Entering one lump A/R opening balance — enter open invoices so customers can pay them.
- Closing before reconciling.
Related articles
Reconciling an accountConfirm your books agree with the bank statement for a period, from start to finish, and resolve a non-zero difference.Migrating to KontoCoreChoose a source and strategy, then map, validate, deduplicate, preview, post, and verify with control totals.Financial Truth and Books HealthHow KontoCore continuously checks your books with deterministic controls, evidence, and findings — and where AI assistance fits.
Was this helpful?
Last reviewed September 25, 2026