{"id":139900,"date":"2026-07-07T10:13:10","date_gmt":"2026-07-07T10:13:10","guid":{"rendered":"https:\/\/docs.daftra.com\/faq\/%d9%85%d8%a7-%d8%a7%d9%84%d9%81%d8%b1%d9%82-%d8%a8%d9%8a%d9%86-%d8%a7%d9%84%d9%81%d8%aa%d8%b1%d8%a9-%d8%a7%d9%84%d9%85%d8%a7%d9%84%d9%8a%d8%a9-%d8%a7%d9%84%d9%85%d9%81%d8%aa%d9%88%d8%ad%d8%a9-%d9%88\/"},"modified":"2026-07-07T11:42:01","modified_gmt":"2026-07-07T11:42:01","slug":"what-is-the-difference-between-an-open-and-a-closed-financial-period","status":"publish","type":"faq","link":"https:\/\/docs.daftra.com\/en\/faq\/what-is-the-difference-between-an-open-and-a-closed-financial-period\/","title":{"rendered":"What is the difference between an open and a closed financial period?"},"content":{"rendered":"<p class=\"font-claude-response-body break-words whitespace-normal\">An open period is the active period on which accounting transactions are recorded, and it can be edited or deleted. A closed period is one that has been formally closed in the accounting system:<\/p>\n<ul class=\"[li_&amp;]:mb-0 [li_&amp;]:mt-1 [li_&amp;]:gap-1 [&amp;:not(:last-child)_ul]:pb-1 [&amp;:not(:last-child)_ol]:pb-1 list-disc flex flex-col gap-1 pl-8 mb-3\">\n<li class=\"font-claude-response-body whitespace-normal break-words pl-2\">Its transactions become read-only and can no longer be edited or deleted.<\/li>\n<li class=\"font-claude-response-body whitespace-normal break-words pl-2\">Upon closing, the system generates three accounting entries: the Profit &amp; Loss entry, the Closing Balance entry, and the Opening Balance entry for the new period.<\/li>\n<li class=\"font-claude-response-body whitespace-normal break-words pl-2\">A profit or loss amount is displayed for it in both the list and the view screen.<\/li>\n<\/ul>\n","protected":false},"author":17,"template":"","categories":[2109,2108,10409],"tags":[],"class_list":["post-139900","faq","type-faq","status-publish","hentry","category-general-accounting","category-accounting","category-financial-periods"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v17.8 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>What is the difference between an open and a closed financial period? - Daftra Knowledge Base<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/docs.daftra.com\/en\/faq\/what-is-the-difference-between-an-open-and-a-closed-financial-period\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"What is the difference between an open and a closed financial period? - Daftra Knowledge Base\" \/>\n<meta property=\"og:description\" content=\"An open period is the active period on which accounting transactions are recorded, and it can be edited or deleted. A closed period is one that has been formally closed in the accounting system: Its transactions become read-only and can no longer be edited or deleted. Upon closing, the system generates three accounting entries: the [&hellip;]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/docs.daftra.com\/en\/faq\/what-is-the-difference-between-an-open-and-a-closed-financial-period\/\" \/>\n<meta property=\"og:site_name\" content=\"Daftra Knowledge Base\" \/>\n<meta property=\"article:modified_time\" content=\"2026-07-07T11:42:01+00:00\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebSite\",\"@id\":\"https:\/\/docs.daftra.com\/#website\",\"url\":\"https:\/\/docs.daftra.com\/\",\"name\":\"Daftra Knowledge Base\",\"description\":\"Daftra\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/docs.daftra.com\/?s={search_term_string}\"},\"query-input\":\"required name=search_term_string\"}],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/docs.daftra.com\/en\/faq\/what-is-the-difference-between-an-open-and-a-closed-financial-period\/#webpage\",\"url\":\"https:\/\/docs.daftra.com\/en\/faq\/what-is-the-difference-between-an-open-and-a-closed-financial-period\/\",\"name\":\"What is the difference between an open and a closed financial period? - Daftra Knowledge Base\",\"isPartOf\":{\"@id\":\"https:\/\/docs.daftra.com\/#website\"},\"datePublished\":\"2026-07-07T10:13:10+00:00\",\"dateModified\":\"2026-07-07T11:42:01+00:00\",\"breadcrumb\":{\"@id\":\"https:\/\/docs.daftra.com\/en\/faq\/what-is-the-difference-between-an-open-and-a-closed-financial-period\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/docs.daftra.com\/en\/faq\/what-is-the-difference-between-an-open-and-a-closed-financial-period\/\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/docs.daftra.com\/en\/faq\/what-is-the-difference-between-an-open-and-a-closed-financial-period\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/docs.daftra.com\/en\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"What is the difference between an open and a closed financial period?\"}]}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"What is the difference between an open and a closed financial period? - Daftra Knowledge Base","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/docs.daftra.com\/en\/faq\/what-is-the-difference-between-an-open-and-a-closed-financial-period\/","og_locale":"en_US","og_type":"article","og_title":"What is the difference between an open and a closed financial period? - Daftra Knowledge Base","og_description":"An open period is the active period on which accounting transactions are recorded, and it can be edited or deleted. A closed period is one that has been formally closed in the accounting system: Its transactions become read-only and can no longer be edited or deleted. Upon closing, the system generates three accounting entries: the [&hellip;]","og_url":"https:\/\/docs.daftra.com\/en\/faq\/what-is-the-difference-between-an-open-and-a-closed-financial-period\/","og_site_name":"Daftra Knowledge Base","article_modified_time":"2026-07-07T11:42:01+00:00","twitter_card":"summary_large_image","schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"WebSite","@id":"https:\/\/docs.daftra.com\/#website","url":"https:\/\/docs.daftra.com\/","name":"Daftra Knowledge Base","description":"Daftra","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/docs.daftra.com\/?s={search_term_string}"},"query-input":"required name=search_term_string"}],"inLanguage":"en-US"},{"@type":"WebPage","@id":"https:\/\/docs.daftra.com\/en\/faq\/what-is-the-difference-between-an-open-and-a-closed-financial-period\/#webpage","url":"https:\/\/docs.daftra.com\/en\/faq\/what-is-the-difference-between-an-open-and-a-closed-financial-period\/","name":"What is the difference between an open and a closed financial period? - Daftra Knowledge Base","isPartOf":{"@id":"https:\/\/docs.daftra.com\/#website"},"datePublished":"2026-07-07T10:13:10+00:00","dateModified":"2026-07-07T11:42:01+00:00","breadcrumb":{"@id":"https:\/\/docs.daftra.com\/en\/faq\/what-is-the-difference-between-an-open-and-a-closed-financial-period\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/docs.daftra.com\/en\/faq\/what-is-the-difference-between-an-open-and-a-closed-financial-period\/"]}]},{"@type":"BreadcrumbList","@id":"https:\/\/docs.daftra.com\/en\/faq\/what-is-the-difference-between-an-open-and-a-closed-financial-period\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/docs.daftra.com\/en\/"},{"@type":"ListItem","position":2,"name":"What is the difference between an open and a closed financial period?"}]}]}},"_links":{"self":[{"href":"https:\/\/docs.daftra.com\/en\/wp-json\/wp\/v2\/faq\/139900","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/docs.daftra.com\/en\/wp-json\/wp\/v2\/faq"}],"about":[{"href":"https:\/\/docs.daftra.com\/en\/wp-json\/wp\/v2\/types\/faq"}],"author":[{"embeddable":true,"href":"https:\/\/docs.daftra.com\/en\/wp-json\/wp\/v2\/users\/17"}],"version-history":[{"count":1,"href":"https:\/\/docs.daftra.com\/en\/wp-json\/wp\/v2\/faq\/139900\/revisions"}],"predecessor-version":[{"id":139901,"href":"https:\/\/docs.daftra.com\/en\/wp-json\/wp\/v2\/faq\/139900\/revisions\/139901"}],"wp:attachment":[{"href":"https:\/\/docs.daftra.com\/en\/wp-json\/wp\/v2\/media?parent=139900"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/docs.daftra.com\/en\/wp-json\/wp\/v2\/categories?post=139900"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/docs.daftra.com\/en\/wp-json\/wp\/v2\/tags?post=139900"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}