The Close of Period function allows users to take a snapshot in time of their Trust or Client Account and captures all the reports required for audit purposes.

It is recommended to run a close of the period each month:

  • After all bank statement transactions for the month have been imported and reconciled.
  • After processing any disbursements for the end of the month.  This is especially important if you have selected 'Periodic Statements' in your Trust Account or Client Account settings.

Launch the Close of Period from the Trust Account home screen by clicking the Close Period link in the trust account tools at the bottom of the page.

Check the month is selected correctly and click Start Close of Period Wizard

Tick the items on the checklist, then Save and Continue.

Optional: Preview Reports.

Download All: it is a legal requirement in some regions to download and store a copy of these reports.

Click Save and Continue

Check the summary at the end, if it is correct click Complete Close of Period.  Use the options to go Back or Cancel Close of Period if not correct.

From the Trust Accounting / Client Accounting home page, the most recent Close of Period can be accessed by clicking on the grey tile.

Previous Close of Period log and reports can be accessed from the Close of Period history tab.