Period Closing Voucher
Overview
Period Closing Voucher – Business Overview
The Period Closing Voucher is a key financial control document in Dafater used to formally close an accounting period, such as a month or financial year. Its main purpose is to lock financial results for a defined period so that reports remain accurate, consistent, and audit-ready.
Once a Period Closing Voucher is applied, it prevents accidental or unauthorized changes to past financial data, ensuring that management decisions and statutory reports are based on finalized numbers.
What the Period Closing Voucher Is Used For
In day-to-day business operations, the Period Closing Voucher is used to:
- Officially close an accounting period after all transactions are completed
- Freeze income, expense, asset, and liability balances for that period
- Ensure financial statements (Profit & Loss, Balance Sheet) remain unchanged
- Support compliance with internal controls, audits, and regulatory requirements
It acts as a financial “checkpoint” that confirms the books are complete and approved for a specific period.
Prerequisites and Setup Requirements
Before creating a Period Closing Voucher, the business should ensure:
- All sales, purchases, expenses, payroll, and adjustments for the period are fully recorded
- Bank, cash, and other key accounts are reconciled
- Required reviews and approvals of financial data are completed
- The organization’s accounting calendar and reporting periods are clearly defined
This preparation ensures the closed period reflects the true financial position of the business.
Typical Workflow and Business Process Fit
A common business workflow for the Period Closing Voucher includes:
Period-End Review
Finance teams review all transactions and resolve discrepancies.Management Confirmation
Financial results are reviewed and approved by authorized personnel.Creation of Period Closing Voucher
The voucher is created to formally close the selected period.Restriction of Backdated Changes
Once closed, entries dated within the period are restricted, preserving data integrity.Reporting and Analysis
Finalized reports are used for performance analysis, audits, and compliance.
This process ensures discipline and consistency in financial reporting.
Key Business Scenarios Where It Is Essential
The Period Closing Voucher is especially important in scenarios such as:
- Month-end and year-end financial closing
- Preparation for internal or external audits
- Finalizing financial statements for investors or lenders
- Ensuring payroll, tax, and expense figures are not altered after submission
- Maintaining strong financial governance in growing organizations
Without it, businesses risk inconsistent reports and data manipulation.
Important Considerations for Users
When working with the Period Closing Voucher, users should keep in mind:
- Once a period is closed, changes are intentionally restricted and should be reopened only with proper authorization
- Closing a period too early can cause issues if transactions are missed
- Clear internal policies should define who is allowed to create or manage these vouchers
- Proper documentation and communication help avoid confusion across departments
Used correctly, the Period Closing Voucher strengthens financial control, transparency, and trust in the business’s financial data.
If you’d like, I can also explain how this document relates to financial reporting, audits, or period reopening policies in Dafater.
Basic Information
- Module: Accounts
- Document Type: Other
Fields
| Field Name | Label | Type | Required | Options | Description |
|---|---|---|---|---|---|
| transaction_date | Transaction Date | Date | - | Date Dafater records the period closing transaction | |
| company | Company | Link | ✓ | Company | Company for which Dafater executes period closing |
| fiscal_year | Fiscal Year | Link | ✓ | Fiscal Year | Fiscal year in Dafater for the closing period |
| periodstartdate | Period Start Date | Date | ✓ | - | Start date of accounting period being closed |
| periodenddate | Period End Date | Date | ✓ | - | End date of accounting period being closed |
| amended_from | Amended From | Link | Period Closing Voucher | Original Dafater voucher this closing entry amends | |
| closingaccounthead | Closing Account Head | Link | ✓ | Account | Account used by Dafater to post period closing balances |
| gleprocessingstatus | GL Entry Processing Status | Select | In Progress, Completed, Failed | Status of Dafater general ledger entry processing | |
| remarks | Remarks | Small Text | ✓ | - | Business notes or comments for this closing in Dafater |
| error_message | Error Message | Text | - | System error details if Dafater fails during processing |
Permissions
| Role | Read | Write | Create | Delete | Submit | Cancel |
|---|---|---|---|---|---|---|
| System Manager | ✓ | ✓ | ✓ | ✓ | ✓ | ✓ |
| Accounts Manager | ✓ | ✓ | ✓ | ✓ | ✓ | ✓ |
Related DocTypes
| DocType | Relationship | Module |
|---|---|---|
| Account Closing Balance | Linked from | Accounts |
| Account | Links to | Accounts |
| Company | Links to | Setup |
| Fiscal Year | Links to | Accounts |
| Period Closing Voucher | Links to | Accounts |