This article walks you through how to complete a Close of Period in your Client/Trust Account. Closing a period finalises your financial records for that month, ensuring your reports are accurate and audit-ready.
When to Perform a Close of Period
It’s recommended to perform a Close of Period each month once the following are complete:
- All bank statement transactions have been imported and reconciled.
- End-of-month disbursements are complete—especially if Periodic Statements are enabled.
How to Start the Close of Period
To begin the Close of Period:
- Go to the Client/Trust Accounts menu.
- Click Close Period at the top of the page.
Using the Close of Period Wizard
Next, follow the wizard to confirm your settings:
- Confirm the correct month is selected.
- Review the period details for accuracy.
- Click Start Close of Period Wizard.
Note: The Close of Period Scheduled for date will default to today and cannot be changed. If a prior month was missed, you may need to reset the period.
Completing the Checklist
Work through the checklist as prompted:
- Tick off each checklist item.
- Click Save and Continue.
- Select Complete Close of Period, or choose Cancel to exit if needed.
The reports will begin generating and will be emailed once complete. This may take several minutes.
Accessing Close of Period Reports
To view past Close of Period reports:
- Go to the Client/Trust Account tab.
- Click on Latest Close of Period or select the Close of Period History tab.
- Download the reports as a .zip file for your records.
By completing these steps monthly, you’ll maintain accurate records and ensure your reporting is consistent and audit-ready.
Regional Terminology
The terms “Trust Account” and “Client Account” are used based on your region—Asia-Pacific customers will see “Trust Account,” while European customers will see “Client Account.” These features are not available in North America. For full details, see our Glossary of Regional Terminology.