You may require a period end depending on your requirements. The table below covers the three scenarios where a period end may or may not be required.
Scenario | Action |
Period 12 is the last period of 12 months year | You don’t need to perform a period end before the year end. |
Using period 13 for adjustments | Close period 12 performing a period end first. If you make all the adjustments in period 13, run the year end without another period end. |
Running short year | Do a year end in the last period of that year. |
