Fiscal periods define the time intervals in which accounting transactions are grouped. From /finance/accounting/fiscal-periods you can configure annual fiscal years, open and close months, and control which period journal entries are recorded in.
Select the fiscal year and starting month. In Mexico, the fiscal year normally runs from January to December, but you can configure irregular periods if your company requires it.
When creating the fiscal year, the system automatically generates the 12 monthly periods with their start and end dates.
Open the first month of the fiscal year to begin recording transactions.
Each monthly period has one of these states:
| State | Description |
|---|---|
| Future | Not yet started, does not allow journal entry recording |
| Open | Active, accepts new entries and modifications |
| Closed | Finalized, does not allow new transactions |
| Reopened | Temporarily open for post-close adjustments |
Period closing
When closing a period, all draft journal entries within that date range will be locked. Make sure to approve or delete pending drafts before closing.
To close a period:
Tip
You can temporarily reopen a closed period if you need to make an adjustment. Only users with admin permissions can perform this action.
When a period is closed:
At the end of the fiscal year:
Automation
Fenicia can automatically generate closing and opening entries. Review the amounts before approving them.