Fiscal Periods is where you manage the monthly accounting periods within each fiscal year. Each fiscal period corresponds to a month.
What fiscal periods are
Fiscal periods are months within your fiscal year. They let you control when transactions can be posted, so that numbers don't fluctuate while you're running reports.
Closing a fiscal period
When you finish a month — for example, July 2026 — you close that period so no one can post transactions to it. This ensures that when you run reports at the end of July, the numbers stay the same the next day and the day after.
Closing is manual, not automatic. This gives you control over the exact timing.
You typically give staff a one- or two-day grace period after month-end to finish posting.
After the grace period, you close the period. If something needs to be posted after closing, contact your district to have the period reopened.
Why not auto-close?
Some transactions are "in transit" — they may have happened in the prior month but weren't processed until the current month. Manual closing lets you make sure all legitimate prior-month transactions are recorded before you lock the period.
Beginning Balances
Beginning Balances are the reconciled balances from the last month in the previous fiscal year. These figures are moved over from the previous fiscal year to become the beginning balances of the current fiscal year.
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Beginning Balances