Close an expense summary

You might close summaries either by period or by summary name, provided the books are still open for the period in question. After a summary is closed, you cannot make transactions unless you reopen that summary.

Closing summaries should be a regular part of your month-end process. It prevents users from posting transactions to the wrong period, as the Summary Date is used for the posting date for almost all transactions.

Open summaries that aren't closed are NOT automatically closed when you close summaries for a subsequent period. For example, say you have closed summaries for Q1, but not Q2. If you close summaries for Q3, Q2 remains open.

1. Go to Expenses > All > Expense subledger > Close.

2. Select an Entity or entity group.

   To see the Entity or entity group field

   Intacct displays this field only for the top-level company in a multi-entity shared environment of multiple companies. It allows users in the top-level company to close periods for all entities or a single entity. The default is unspecified, which is equivalent to selecting all entities. Alternatively, you may close a single entity or group of entities.

3. Do one of the following:

   • Select To the end of period.

     This closes all summaries in one or more periods.

   • Select Close a single summary.

     This closes both regular summaries and adjustment summaries.

4. Select Close.

Field descriptions

Close summaries field descriptions

Field	Description
Close subledger from	The start date from which you have open summaries.
To the end of period	Accounting period you want to close. If you don't see any reporting periods in the dropdown, create the applicable reporting periods. Reporting periods must be created each year.
Close a single summary	The open summary that you want to close.