Settings → Accounting → Accountant holds the bookkeeping rules:
- Accounting basis — Accrual (revenue and expenses recognised when invoiced or billed) or Cash (invoices, bills, credit notes and vendor credits count when they are settled; journals, opening balances, assets bought on credit and payroll accruals appear as posted). It changes how the Profit & Loss and Balance Sheet are calculated.
- Chart of accounts — Require account codes, Unique account codes.
- Period locking — how strictly a lock is enforced: Partial (locked periods are read-only, but administrators with the period_lock permission can still edit when necessary) or All transactions (nobody can edit, strict close-of-books).
- Close a period — the lock itself. Locking a period stops anything being
posted, edited or deleted on or before the lock date — invoices, bills,
journals, payments, stock movements and production alike. The table shows a
row for All and, under Partial enforcement, separate rows for Sales,
Purchases and Banking & journals, each with its Status (Open or the
closed-through date), Reason and actions:
- Close period — set Closed up to and including a date and a Reason (FY2026 closed and filed).
- Reopen — remove the lock.
- Allow an exception window — under Partial enforcement, open a From / To window inside a closed period for a specific correction.
- Inventory — Running cost computation: recompute item average cost as each transaction posts, rather than in batch.
- Year-end close — enter the Fiscal year end date and post the closing entry that moves the year's income and expenses into retained earnings (Post year-end close?).