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How-toReviewed 2026-09-29

Review the month and lock the period

At month end, read the day book for the month, check that the trial balance is balanced, check key ledgers such as the bank, cross-check the period balances, and then lock the month on the books' Fiscal years tab so nothing more posts into it.

Review the month and lock the period

Once a month's entries are in, the accounts team checks them and then locks the month, so no voucher, manual or automatic, can post into it afterwards. Lock a month once its returns are filed, so the books keep agreeing with what was reported.

Before you start

  • The month's entries are posted: demands issued, receipts cleared, payouts, commissions, the month's revenue run if you run one (see Post a revenue run), and manual vouchers. Drafts don't count in any report and can't be posted once the month is locked: open Vouchers with Status set to Draft and post, cancel or delete them (see Post a draft voucher).
  • Every day's RERA sweep is posted: the project's RERA accounts card and the statement should show nothing unswept and no receipts outside the collection account. Draft sweeps are posted or cancelled under RERA sweeps (Sweep the collection account by hand).
  • Permissions, in the role editor's words:
    • the View permission on Reports and on Books for the reports, and on Chart of Accounts to pick a ledger (the default Administrator, Finance Lead and Accountant roles, among others);
    • the Edit permission on Books to rebuild period balances and to lock or unlock a period (the Administrator and Finance Lead).

Steps

  1. In the sidebar open Accounting > Reports, pick the books in the Books switcher at the top right, and choose the Day book tab. Set From and To to the first and last day of the month (it opens on the current month up to today). The summary reads "<from> to <to> · <n> vouchers · <total> in total", and every posted voucher of the month follows in date order with its lines. Scan it for anything unexpected; Export CSV gives you a copy. See Day book.
  2. Choose the Trial balance tab, pick the Fiscal year, and set From to the year's first day and To to the month's last day. The summary reads "FY <name> · <from> to <to> · <n> ledgers" with a green Balanced badge. Review each ledger's Opening, Debit, Credit and Closing; Groups rolls them up the group tree. See Trial balance.
  3. Choose the Ledger tab, pick a ledger you want to check in Ledger, for example the collection account's bank ledger, and set From and To to the month. You see the "Opening balance", every posting with a running Balance, "Period totals" and the "Closing balance", to compare with the bank statement. A ledger name on the trial balance opens the same report. See Ledger report. For a project's RERA accounts, read the RERA accounts tab for the month as well (Check the RERA accounts and the sweep share): Swept should show no unswept amount, Receipts outside the collection account should read "nil", and Share to the separate account should carry "Meets <n>%".
  4. Choose the Period balances tab and pick the same ledger and Fiscal year. Each month shows Opening Dr / Opening Cr, Debit / Credit and Closing Dr / Closing Cr; the month's closing should match the ledger report. The reports don't read these stored figures, so this is a cross-check. See Period balances.
  5. If the figures differ, or the table reads "No cached rows: nothing has been posted to this ledger in this year, or the cache needs a rebuild." although the ledger has postings, click Rebuild balances. The confirmation "Rebuild period balances?" reads "Recomputes the monthly cache for every ledger and fiscal year of <books> from the posted vouchers. Reports do not depend on it; use this after a data fix." Click Rebuild; you see "Rebuilt <n> rows for <n> ledgers across <n> year(s)."
  6. In the sidebar open Accounting > Books, open the same books and choose the Fiscal years tab. The page reads "Postings need an open fiscal year and an unlocked period. Lock a period once its returns are filed; close the year once the next one is open and no drafts remain." Each year is a card, newest first; the current year is expanded with one switch per month ("P01 <Mon YYYY>" and so on) and "N of 12 periods locked". Click a year's heading to expand it. See Fiscal years.
  7. Switch on the month you reviewed, for example P06 Sep 2026 in a year that starts in April. You see "Period 6 locked." The month's description changes to "Locked: no postings" and the count goes up by one.
  8. If a late entry must still go into a locked month, switch the month off ("Period 6 unlocked."), post the entry, then switch it on again. This isn't possible once the year is closed: the card is marked Closed, its switches are greyed out, and only Reopen year (see Close a fiscal year) unlocks its periods again.

What happens next

  • Nothing can post into a locked month: manual vouchers, and automatic postings from demand issue, receipt clearing, payouts, commissions and accruals, are refused with "Period <n> of <FY> is locked" until the month is unlocked. Date them in an open month instead.
  • Drafts can still be saved with a date in the locked month, but they won't post. The voucher list and the voucher page mark them "Period locked".
  • Locking changes no figures; the reports read the same.
  • At year end, closing the year locks all twelve months at once. See Close a fiscal year.

If something goes wrong

  • The trial balance shows "Not balanced: check opening balances": the year's opening balances don't agree; fix them on Opening balances. See Trial balance not balanced (trouble.accounting.trial-balance-not-balanced).
  • "The range must lie inside fiscal year <name>" (trial balance), "date_to is before date_from" (ledger report), "No posted vouchers in this range." or "Pick a ledger": check the dates and the ledger. See Report refuses the date range (trouble.accounting.ledger-report-date-range).
  • The month switches are greyed out and the year's card is marked Closed: a closed year's periods stay locked. Click Reopen year on that card first (it reverses the closing journal and unlocks the periods), then switch the month off. "Period <n> of <FY> is locked" on a voucher or an automatic posting: unlock the month or change the date. See No open period for the date (trouble.accounting.fiscal-year-missing).
  • The month switches are greyed out in an open year and there is no Rebuild balances button: your role lacks the Edit permission on Books. See No access (trouble.admin.no-access).

Related

  • Day bookScreen

    Every posted voucher line in a date range as a paged grid you can sort, resize and filter by column, with totals for what the filters match and CSV export.

  • Trial balanceScreen

    Opening, period debit and credit and closing per ledger or per group for a fiscal-year range, on a grid you can sort, resize and filter by column, with the report's totals in the footer and CSV export.

  • Ledger reportScreen

    The ledger of one account between two dates: opening balance, every posting with a running balance, and closing balance, with CSV export.

  • Period balancesScreen

    The stored month-by-month opening, movement and closing of one ledger, used as a cross-check, with the action to rebuild it for the whole set of books.

  • Fiscal yearsScreen

    The fiscal years of a set of books with their 12 monthly periods: lock or unlock a month, open the next year, and close or reopen a year at year end.

  • Books overviewScreen

    The home page of one set of books: its company and settings, counts, fiscal years, and shortcuts to the chart of accounts, vouchers, reports and opening balances, with the actions to rename, deactivate or delete the books.

  • VouchersScreen

    Every voucher in the chosen set of books (drafts, posted, reversed and cancelled), with filters and the menu to start a new voucher.

  • Opening balancesScreen

    The balances brought forward into a fiscal year, one amount and side per ledger, typed in one table and saved as a whole, with running debit and credit totals.

  • RERA accountsScreen

    The RERA accounts statement for one set of books, or one project: what reached the collection account, what was swept to the separate and operative accounts and at what share, what was withdrawn from the separate account, and the movement on the four accounts' ledgers.

  • RERA sweepsScreen

    Every RERA sweep of the organization, one per receipt the moment it clears into a project's collection account (mirroring the bank's sweep of that account into the RERA separate and operative accounts) or one per clearing date from the Sweep now dialog that previews and posts sweeps by hand.

  • Post a draft voucher (maker-checker)How-to

    As the checker, find the drafts an accountant has saved, review one, and post it so it gets its number and reaches the ledger.

  • Close a fiscal yearHow-to

    Review the year's profit and loss and balance sheet, open the next year, clear the draft vouchers, then close the year so income and expenses move into Profit & Loss Account and the closing balances become the next year's opening balances.

  • Prepare, review and post a revenue runHow-to

    The monthly revenue close: prepare a draft revenue run for a period end, read what each booking and member offer would recognise, fix what holds lines back, post the run's journals, and check the contract balances and the balance sheet.

  • Settle bills bill-wiseHow-to

    Pay or receive against a particular open bill on a bill-wise ledger with an Against Ref allocation, park money that has no bill yet as Advance or On Account, and check the result on Outstanding bills and the Ageing report.

  • Check the RERA accounts and the sweep shareHow-to

    Set the organization's escrow share rule (or a project's own share), make sure every receipt enters the project's collection account, and read the RERA accounts card and statement to see that the daily sweeps to the RERA separate account meet the share.

  • See the group position across promoter entitiesHow-to

    Use the Consolidated report to add up every active set of books in the organization, one per promoter company, by template ledger or group, optionally for one nature or one project, and export it.

  • Fiscal years, periods, locks, opening balances and the year-end closeConcept

    Each set of books runs in fiscal years of twelve monthly periods; a voucher can post only into an open year and an unlocked period, opening balances carry each ledger's balance into a year, the year-end close moves income and expense into Profit & Loss Account by a closing journal and writes the next year's openings, and a monthly balance cache is kept as a cross-check.

  • "Not balanced: check opening balances": the trial balance or balance sheet shows a differenceTroubleshooting

    Posted vouchers always balance, so a gap on the trial balance or balance sheet comes from the opening balances typed for the year; balance them on the Opening balances tab, then rebuild the period cache so Period balances agree.

  • Posting refused: no open fiscal year or period for the dateTroubleshooting

    Every posting, manual or automatic, needs a fiscal year of the books that covers its date, with the year open and the month's period unlocked; open the next year, unlock the period or reopen the year under Books, or move the document's date.

  • Report refuses the date range, or shows nothing for itTroubleshooting

    Reports read posted vouchers between two dates: From must not be after To, the year-based reports keep the range inside one fiscal year, and an empty result usually means the range, the filters or a draft that was never posted.

  • Voucher cannot be posted: unbalanced, missing lines, retired ledgers or bill allocations that do not matchTroubleshooting

    Save and post or Post is greyed out, the draft saves but posting fails, or the form refuses a line: the balance, line, ledger, voucher-type and bill-allocation rules a voucher must meet before it reaches the ledger.

  • "No access" or "You do not have permission": your role lacks a permissionTroubleshooting

    Every screen, button and picker is gated by a permission on a module; your role decides which you hold, so a missing one shows as a No access card, a refused action, a greyed-out button with a hover reason, or a picker that explains which permission it needs.