Reopen a period
A closed month is reopened for corrections, then closed again.
Before you start
- A period with the status closed.
- Access to reopen periods. This access is more limited than access to close periods.
Steps
Step 1: Pick the closed month
Choose the Period year and Period month that are closed, then click Refresh checklist.
Screenshot coming soon
The period summary with the closed status.
Step 2: Reopen with a reason
In Reopen this period, click Reopen Period. Enter a reason of at least 10 characters, then click Confirm Reopen.
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The Reopen this period section with the reason and the Confirm Reopen button.
Step 3: Check the reversal journal
The page shows Period reopened. Click Open reversal journal to see the COGS and depreciation reversal.
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The Period reopened message with the Open reversal journal button.
When you are done
- The period status is open again.
- The month's inventory close (COGS) journal and depreciation journal are reversed automatically. Open reversal journal shows the reversal.
- After the corrections, run depreciation again and close the period again. The next month can only be closed once this one is closed again.
Common problems
The Confirm Reopen button can't be clicked
The reopen reason must have at least 10 characters.
A message says the period failed to reopen
Usually the reopen access is missing. Ask the company owner or a finance admin.
The reopen section doesn't appear right after closing
Click Refresh checklist or reload the page.
Something still unclear?
Ask us on WhatsApp. The Finday team replies during office hours and can walk you through it in your own account.