Monthly Closing

Closing is where you check a client's month and sign it off. AIFT runs sixteen checks on the month, you tick your own manual checklist, and when nothing blocking is left you close the month. Closing freezes a snapshot of the checks; you can reopen the month later with a reason.

Closing is on the accountant side only and needs the "Close periods" permission. Accountants and accountant admins have it by default. Without it, Closing is not in the sidebar and the Closing pages are not available (see Roles and permissions).

Which month it opens on

The card at the top of Closing names the latest month that has ended and is not closed yet. In October that is September: a monthly VAT filer in Hungary files the September return by 20 October, so September is the month you are working on. When every ended month is closed, the card says No month to close.

The month list under it starts at the line Closing starts:, under the page title. By default that is the month the workspace was created in, so a new client does not show years of empty months. Click Change to pick an earlier first month to close, for example when you take over a client mid-year and want to close the months before you joined. Reset to default goes back to the creation month. Months that were already closed stay listed whatever you choose.

The current month is listed too, marked month still running: you can look at it, but it is not the month the card offers.

Mission control names the same month: its Closing row and the Closing backlog tile read the same rule.

The checks

Open a month from the list, or click Continue closing on the card. The page measures everything on the delivery date of invoices and the booking date of bank transactions.

To do comes first. It lists only the checks that are failing: Blocking ones first, then Advisory ones. Each row shows the number with its unit (for example "96 invoices"), one line that says what the check found, and Open, which takes you to the list behind the number.

Checks lists the rest, one line each. A tick means the check passes. Not applicable means the check does not apply to this workspace, and the line under it says why: there is no bank account, no NAV connection, no VAT code set up, or the AI work behind the check (categorization or VAT coding) is switched off for this workspace.

1. To do lists only the checks that are failing, blocking ones first.
2. The label says how much a check matters: Blocking stops the close, Advisory does not.
3. The number comes with its unit, and the line under it says what the check found. Here, invoices that are only waiting for payment are left out of the count.
4. Open takes you to the list behind the number.
5. Closing status says whether the month can close, and under the button, in words, what is still missing.

Two things worth knowing:

• An unpaid invoice does not block the month. At month end an unpaid supplier or customer invoice is an open item that carries into the next month, not a fault in the month's books. Problem invoices resolved therefore does not count invoices whose only problem is that they are not paid yet. The bank side still has to be complete: All transactions resolved requires every bank transaction of the month to be matched or explained.
• Advisory checks never block. You acknowledge them when you close.

Where "Open" takes you

A narrowed list shows a label above it that names the month, with Clear filter next to it. On Matching this is the only time the pending list is narrowed: opened any other way it always shows every pending suggestion (see Focused Period).

The invoice filter shows at most 200 invoices. When the check counted more, a line above the list says how many are shown out of how many.

Closing the month

The Closing status card sits next to the checks on a wide screen, and right under the title on a phone. It says Not ready to close or Ready to close, counts the blocking checks, the advisories and the manual checklist, and under the Close period button it says in words what is still missing.

Close period opens a confirmation that restates what you sign: how many checks pass, the manual checklist, and the advisories you acknowledge by name. You can add a Note (optional). Close freezes a snapshot of every check. A closed month always shows that snapshot, never a recalculation.

The manual checklist

The Manual checklist holds your office's own month-end steps. Add an item with Add, choosing Every month or This month only. Ticking an item records who ticked it and when. Every item must be ticked before the month can close.

Removing an item asks first, and Remove in that dialog removes it. An Every month item leaves the checklist of every open and future month; closed months keep their snapshot unchanged. A This month only item leaves this month only.

After the close

Invoices or bank transactions that arrive after the close but belong to the closed month are listed on that month as Late arrivals, and the month list marks the month. The snapshot does not change.

To change a closed month, click Reopen and give a reason. The reason is required and kept: the month then shows who reopened it, when, and why, also after you close it again.

Related

• Focused Period: opening a month in Closing sets the sidebar's focused period
• Invoice Matching
• Uploading Bank Statements
• Roles and permissions