There’s a Period Close option under the Finances main menu. It closes the selected date range and generates a file in a format compatible with your accounting software. Each line item on this report corresponds exactly to the corresponding line item on the Transactions by GL page, also located under Finances.
The software is designed to require financial periods to be closed sequentially (one month at a time) to ensure the integrity and accuracy of your financial data. Each period builds on the previous one, so closing one day, week or month at a time helps guarantee that all transactions, adjustments, and reconciliations are fully accounted for and finalized in the correct order.
Data accuracy: It prevents transactions from being posted to earlier periods after later periods are closed, which could otherwise create inconsistencies.
Audit integrity: Sequential closing creates a clear, traceable financial timeline that supports audit and compliance requirements.
Error prevention: It ensures that any discrepancies are identified and resolved in the correct period before moving forward.
However, a period cannot span across multiple months. For example, to close a single day, the opening and closing dates must be the same (e.g., March 1). For a longer range, the dates must still fall within the same month, such as March 2–8 for a week or March 1–31 for the full month.
If a date range is entered that crosses into the next month (e.g., March 30 to April 5), the system will automatically adjust the closing date to the last day of the current month (March 31). A new period will then begin on the next available date, which would be April 1 in this example.
Once the period is closed, certain actions, such as changing the GL code for a transaction, are no longer permitted if the transaction has already been recorded.
To close a period, navigate to Finance > Period Close. In the Opening Day/ Closing Day fields, enter the date range of the period you want to close. When initiating a new Period Close export, the Opening Day field will be greyed out and defaulted to the next available date following the last closed date.
Important Note: The maximum time frame that can be closed at once is one month.
Before closing the period, we recommend selecting the Do a Preview (Don’t Close) option. This allows you to view a soft close export file, enabling you to review and make any necessary changes.
Once you’ve reviewed the soft close, return to Finance > Period Close. Select the desired date range and click the Close the Period radio button (this action cannot be undone).
After closing the period, you can download the two different account entry views generated by Core: the Summarized view and the Detailed view. The Summarized view contains the same entries as the Transactions by GL report.
Important Note: If you fail to complete the Close the Period step, transactions can still be modified or edited, resulting in variations in the Transactions by GL, Itemized Transactions, or Period Preview reports. To avoid this, it’s best practice to perform a final close of the period after reviewing the Finances section and ensuring it’s ready for the day or month-end.