Close the reporting period
A reporting period is the period covered by a set of financial statements, usually a calendar month. Closing a reporting period locks all transactions in that period and ensures long-term report stability.
The last day in the last closed reporting period is called the debtor close date. You cannot change a transaction dated earlier than the debtor close date. For example, you cannot change the balance of an invoice that is dated earlier than the debtor close date.
You should close a reporting period a week or two after the period end date. The delay gives you a window of time to correct mistakes before transactions are locked.
This task explains how to close a reporting period.