MoneyWorks Manual
Managing Financial Periods
In MoneyWorks, a period can have one of several states:
Open: Transactions can be entered into the period;
Locked: Transactions cannot be entered into the period, but the period can be “unlocked” so it becomes open again;
Closed: Transactions cannot be entered into the period. Once a period is closed it cannot be re-opened.
Purged: A closed period can be purged. Any transactions already entered into the period are discarded. The period balances remain.
Opening a period is handled automatically for you, and will occur:
- If you enter a transaction with a date past the end of the current period. You will be asked if you want to open the new period;
- If you open a MoneyWorks file whose last period ends before today.
- If the Document preference Auto open new period when opening file in new month is on, a new period will be silently opened when the file is first opened in the new month (regardless of the user’s privileges), provided it is opened within 30 days of the old period ending.
You can also explicitly open a period by using the Open/Close Period command in the Commands menu. You have to use this command to lock, close or purge a period. The most recently opened period is known as the current period.
Note: Opening periods in advance has little effect in MoneyWorks, but is probably better avoided.