FAQs
Can I still edit data after a fiscal month is closed?
No. Once a fiscal month is closed, cost, billing, revenue, and actual hours for that period are locked and cannot be edited or recalculated.
If changes are required after closing, the system records the financial impact as an adjustment in an open fiscal period, without modifying the closed data.
What happens if a timesheet is submitted or approved late?
Late timesheets do not change the closed fiscal month.
Instead, any additional cost, billing, or revenue is posted as an adjustment in the next open fiscal month, preserving auditability.
Does closing a fiscal month affect future months?
No. Closing a fiscal month only locks data within that specific period.
Future fiscal months remain open and fully editable.
Can I run Update Forecast after a fiscal month is closed?
Yes. Update Forecast can still be run after a month is closed.
However, it will not change locked actuals, cost, billing, or revenue in the closed period. Any impact will be reflected in open periods only.
Can a closed fiscal month be reopened?
Yes, if you have the required permissions.
Reopening a fiscal month unlocks the period and allows changes, but it should be done carefully, as it may affect financial reports and audit trails.
Are adjustments tracked and auditable?
Yes. All adjustments created due to changes after a month is closed are tracked separately and provide a clear audit trail showing when and why the adjustment occurred.
Who can close or reopen a fiscal month?
Only users with the appropriate financial or administrative permissions can close or reopen a fiscal month. Other users have read-only access to closed periods.
Will closing a fiscal month affect invoices already sent to customers?
No. Closing a fiscal month does not change invoices that have already been issued. Any corrections are handled through adjustments or future billing, according to your billing rules.