You must open a new period on the first working day following the month end. It may be easier to open the new period once all the month-end reports are run.
However, this may not be practical in some situations and shouldn't affect the month-end procedure as you can produce reports for historic periods. You must open this period before any postings for that period are done.
Create a new period
Click Administrator's Desktop and then click Periods Maintenance.
Click Open/Close and then select Open Period.
Click OK.
Note: The period's maintenance screen shows today's date and confirms the period is open.Click Exit.