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Administration > Security > Closing Periods
Description
The application gathers maintenance costs on an ongoing basis. When you are ready to process those costs, define closing periods. Typically, closing periods occur at the end of every month, although some companies process transactions on a quarterly basis. When the specified date arrives, the application freezes all of the relevant data, and a new costing period begins.
Define closing periods just before transferring transaction data to another application for account processing (general ledger, accounts payable, accounts receivable, etc.).