--- title: "Month End > Manage Accounting Periods" canonical: "https://technology.bytangram.com/space/TGKB/259490066/Month%20End%20%3E%20Manage%20Accounting%20Periods" format: markdown --- **Accounting periods** are used to control, by month, when certain financial transactions can be made in the system. Different transaction types can be allowed/blocked monthly according to your internal finance processes, for instance, blocking transactions for timesheets and personal expenses once month end has concluded. Accounting periods can be managed in the **finance & administration** module or the **[settings](https://tangram.atlassian.net/wiki/spaces/TGKB/pages/728104965/Settings+%3E+Managing+Accounting+Periods)**[ module](https://tangram.atlassian.net/wiki/spaces/TGKB/pages/728104965/Settings+%3E+Managing+Accounting+Periods). They are usually managed by designated role(s) or person(s) within each agency or office. --- - If you have access to multiple companies within your system, ensure you have selected the relevant entity from the dropdown list before making any updates to finance & administration settings - If you only have access to one company this field will default accordingly ![image](media://dbe89e0f-9380-4747-be57-0ad5ac31430a) --- ## SET THE FINANCIAL YEAR - Go to the **finance & administration **module - Select** month-end **> **accounting periods** ![image](media://b42b2abf-08a7-4bc7-aa00-da5ef51eeaf4) - In the top half of the screen you can set/delete your agency’s financial year ![image](media://2614546c-9031-49fe-af2f-54984b035702) | **ICON** | **FUNCTIONALITY** | | --- | --- | | ![image](media://064f8961-1f8a-471a-b5f1-214a4b9162fa) | **Create new** accounting year | | ![image](media://a7820ae5-20f8-48ca-9906-a779f080f567) | **Delete** accounting year | | ![image](media://579cdcb4-8e49-4a8a-b655-386c661024a5) | **Move first month** from selected year to previous year | | ![image](media://383814e9-f695-4ddb-8454-a8bfa5d6acf5) | **Move last month** from selected year to next year | --- ## LOCK OR OPEN ACCOUNTING PERIOD - To fully lock or open a period then click in the **period number** column for the month you wish to open/lock - Then click **select/deselect entire row** button …or… ![image](media://b11b84d2-87f2-4749-8513-b6b931df595a) - Alternatively, **select** and **deselect** individual transaction types. ![image](media://5d2eb7db-c497-44f4-9214-9e5d7cb99ec9) - When a period is **locked**, it means those transaction types cannot be performed in WorkBook - In the example above, the accounting period for 01/12/21 has been locked for time entry, material entry, sales invoices, subsistence allowance personal expense entries and purchase orders - this means that staff can no longer add time, materials, subsistence or expenses dated in that period or create invoices or purchase orders in that period - This is so finance can close and reconcile jobs with for that period without rogue entries appearing after the fact Below is a guide of the transaction types and their functionality. | **TRANSACTION TYPE** | **FUNCTIONALITY** | | --- | --- | | **Finance Posting** | When the box is checked finance postings are allowed during this period | | **Project Posting** | When the box is checked project postings are allowed during this period | | **Time Entry** | When the box is checked time entry is allowed during this period | | **Material Entry** | When the box is checked material entries are allowed during this period | | **Creditor Invoice Entry** | When the box is checked creditor invoices are allowed during this period | | **Adjustment** | When the box is checked WIP adjustments allowed during this period | | **Sales Invoices** | When the box is checked invoice creation is allowed during this period | | **Subsistence Allowance** | When the box is checked subsistence allowance is allowed during this period | | **Personal Expense** | When the box is checked personal expense entries are allowed during this period | | **Purchase Orders** | When the box is checked PO creation is allowed during this period | | **Mileage** | When the box is checked milage entries are allowed during this period | | **Edit Checklist** | When the box is checked checklists are allowed to be edited during this period | | **Finance Posting of Accrual** | When the box is checked, accrual vouchers will be allowed to post financially via the menu Project Posting. | --- > Macro (contentbylabel)