Closing A Month in LeaseAccelerator

Authorized users may utilize LeaseAccelerator’s Month-End Closing capability by accessing the Month-End Closing workspace from the Left NavBar, under Accounting Administration. Existing month closing details will display in a table. Above the table, users may select the month to close from the drop-down, provide comments, and click Save. This will have the effect of closing the period selected and all prior periods.

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Once the period is closed, you’ll see the last closed period update on the Left NavBar just above the LeaseAccelerator logo.

Clients have the ability to close their books up to 15 days before their fiscal month-end. This is when the current month will appear in the Close Books Effective drop-down.

Once a user has clicked Save and started the close process, there will be a message at the top of the workspace that lets the user know they will receive an email once the closing has completed. Only the user that initiated the close will receive the email. It is recommended that all activity be suspended while the books are being closed to avoid unexpected results in reports. This includes importing, booking, and generating reports.

Re-Open a Closed Period

To Re-Open a closed period, select the Padlock icon to the left of the most recently closed period. When re-opening a month, the below warning displays. Users must read this warning carefully and provide comments. To complete the process, a user will click Save. The person who closed and opened the books will be automatically displayed in the Month-End Closing workspace, as well as the comments entered at the time of close or reopen.