Why it's important to keep up-to-date with the current accounting period
- Fraud Protection - Transactions can't be edited in, or added to in closed months
- Reporting - You can't print Statements for more than a year in the future
- Reporting - It is easier to select dates using Current Month, Next Month, or Previous month
- Reporting - Your finance council doesn't have to wonder if the reports will change
- Prevent the annoying (but helpful) message that the transaction is beyond the specified number of months
- Keeps you in line with Standard Accounting Practices (normally close a month before the end of the following month)
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