All 26 Computerized Bookkeeping questions
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What is period-end closing (locking) in accounting software?

Intermediate

Answer

Period-end closing locks a completed accounting period so transactions can't be added or changed after it's finalized and reported. It preserves the integrity of reported figures; any needed adjustment to a closed period is made by a dated journal in an open period or by a controlled reopening, with the audit trail recording it.
Real-world example After filing the VAT return, the bookkeeper locks the quarter so those figures can't be altered accidentally.

Common follow-ups: Why lock a period after reporting? | How are post-close adjustments handled?

Correcting Errors Trial Balance Computerized Bookkeeping
All 26 Computerized Bookkeeping questions