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)