Fiscal Periods are the time windows your business uses to group financial data — usually months. Every invoice, payment, journal entry, and report is tied to a fiscal period. At month-end, you close the period so nobody can accidentally post backdated entries, which gives your books a clean audit trail.
Most small businesses use 12 monthly periods per year. You set those up here once at the start of your fiscal year and rarely touch this page afterward, except to close periods as each month wraps up.
Where to Find Fiscal Periods
From anywhere in include GO, click the Settings icon in the left sidebar (near the bottom). In the Settings sidebar that opens, under the Financial Setup section, click Fiscal Periods.
Navigation path: Dashboard → Settings → Financial Setup → Fiscal Periods
The Fiscal Periods Page
The page shows a table of all your periods, sorted by start date. Like most settings in include GO, you add and edit periods right in the table itself — click a cell, type, and save.
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What you see on this screen
| # | Element | What it does |
|---|---|---|
| 1 | Add Period button | The blue button in the top-right. Click to start adding a new fiscal period. A new empty row appears at the top of the table. |
| 2 | Period Name column | The name of the period, like "January 2026" or "Period 1". This is what appears on reports. |
| 3 | Start Date column | The first day of the period. Click the cell to pick a date from a calendar. |
| 4 | End Date column | The last day of the period. Must be the same as or after the start date. |
| 5 | Status column | A color-coded badge: green "Open" (transactions can be posted) or gray "Closed" (locked for changes). You can't edit this directly — use the right-click menu. |
There's also an ID column (auto-generated number) and a Last Changed column showing when each period was last updated.
Adding a New Fiscal Period
Click the + Add Period button in the top-right. An empty new row slides in at the top of the table, with the cursor already placed in the Period Name cell.
What to fill in
| Cell | Required? | What to enter |
|---|---|---|
| Period Name | Yes | A clear label for the period. Use a consistent format like January 2026, Feb 2026, or Period 1. Whatever pattern you pick, use it for all your periods so they sort and display consistently on reports. Max 100 characters. |
| Start Date | Yes | The first day of the period. Click the cell to open a calendar picker. For a monthly period, this is the 1st of the month. |
| End Date | Yes | The last day of the period. Click the cell and pick a date. Must be the same as or later than the start date. For a monthly period, this is the last day of the month (28th, 30th, or 31st depending on the month). |
The ID is filled in automatically. New periods start as Open so transactions can be posted to them right away.
Saving or canceling
- Press Enter from any cell to save. The new period drops into the list.
- Or click the green checkmark (✓) on the right side of the row to save.
- Press Escape, or click the red X, to cancel and discard the new row.
If something's wrong: A red message appears above the table. The two most common errors:
- "End Date must be on or after Start Date." Fix whichever date is wrong.
- "This fiscal period overlaps with an existing fiscal period." The system won't let two periods cover the same day. Check your start/end dates against your other periods and adjust.
Editing a Fiscal Period
Click any editable cell — Period Name, Start Date, or End Date — and type or pick a new value. The Save (green checkmark) and Cancel (red X) buttons appear on the right side of the row. Changes don't save until you click the checkmark or press Enter.
You can also right-click on a row and choose Edit from the menu.
Be careful when editing dates on existing periods. If transactions have already been posted to this period, changing its dates could shift them into a different reporting window. Talk to your accountant before retroactively changing a period's boundaries.
Closing and Opening Periods
At the end of each month (or however long your period is), you close the period so no new transactions can be posted to it. This protects your books: once a month is reconciled and reported, you don't want someone accidentally posting a March invoice to February two weeks later.
Right-click any row to see the menu:
| Action | When you'll see it | What it does |
|---|---|---|
| Add New Fiscal Period | Always | Same as clicking the "+ Add Period" button above the table. |
| Edit | On existing rows | Enables the row for editing. |
| Close Period | On Open periods | Locks the period. No new transactions can be posted to it. Existing transactions stay in place. A confirmation appears first. |
| Open Period | On Closed periods | Reopens the period so transactions can be posted again. Use carefully — reopening a closed period affects financial reports. |
Only two statuses exist: Open and Closed. There's no "Archived" state for fiscal periods — closed periods stay visible forever so historical reports keep working.
Who Can Edit This Page?
Anyone with the Settings View permission can see the Fiscal Periods page. Only users with the Settings Manage Fiscal Periods permission can add, edit, or close periods. By default this means Super Admin and Accountant roles.
Closing a period is typically a month-end task for whoever runs your books. It shouldn't be granted widely — once a period is closed, reopening it to fix things is a hassle and raises audit flags.
Tips & Best Practices
- Set up all 12 months at the start of each year. If a period doesn't exist when someone tries to post a transaction, the transaction fails. Create January through December in advance.
- Use a consistent Name format. Either "January 2026" or "Period 1" — not a mix. Reports sort better, and your team finds the right period faster.
- Close each month promptly. Waiting weeks to close March just invites someone to post a late March invoice after you've already filed state taxes. A few days of grace is fine; a few weeks is asking for trouble.
- Don't reopen a closed period without a reason. If you find you need to post to a closed period, ask why — usually it means someone missed a transaction. Post it to the current period with a memo instead, when possible.
- Align Start Date with your Fiscal Year Start Month. If your fiscal year starts in July (set on the Business Unit page), make Period 1 start July 1, not January 1.
Common Questions
How many periods do I need? Most businesses use 12 monthly periods per year. Some use 13 (if they use accounting periods like 13 four-week periods), or 4 (quarterly). Match whatever your accountant is used to.
What happens if I try to post to a closed period? You'll get an error telling you the period is closed. The transaction won't save until you either reopen the period or change the transaction date to a period that is open.
Why won't the system let me create overlapping periods? Every financial transaction has to belong to exactly one period. If two periods covered the same day, the system wouldn't know which one to use. That's why overlap is blocked.
I closed a period by accident. How do I reopen it? Right-click the row and choose Open Period. Make sure this is really what you want — if the period was closed for good reason (reports filed, taxes paid), reopening it affects your books.
Can I delete a period? No. Periods stay in the system permanently so historical reports keep working. The best you can do is close a period if you're done with it.
What if my fiscal year doesn't start in January? The start month is set on the Business Unit page under Fiscal & Tax. Once that's correct, create your periods to match. A July-start fiscal year would have Period 1 run July 1 through July 31.
Related Topics
- Business Unit — Where you set your Fiscal Year Start Month
- GL Categories — How accounts are grouped for period reporting
- Chart of Accounts — The accounts transactions post to within each period
- Roles & Permissions — Control who can open and close periods