How does the Close Books feature work?

In ME, you can set a "Close Books" date so that once you are ready to close the books on a period within your accounting system, you can ensure that no more invoices from prior periods will be sent from ME.   This will help ensure that ME stays in sync with your accounting system and past financial reports.

To enter this date, select “Accounting” on the main menu, and then select “Close Books”.     There you can enter the "Accounting Period Closed Date", which is the last date of the period you are closing.   If this date is populated, ME will not use any invoice dates up to and including this date.  If an invoice is uploaded with dates equal to or prior to that date, the invoice date will be changed to the first day of the next period.

For example, if you are using calendar month periods, when you are ready to close the January 2017 period, you would go to "Close Books" and enter 1/31/2017.   That means no more invoices with dates of January or before (i.e., nothing prior to 2/1/2017) will be sent to your system.    If an invoice prior to 2/1/2017 is uploaded, ME will change the invoice date to 2/1/2017.

Any invoice closed to the following period will show the Invoice Date date in red (as opposed to black), but will show the accurate Upload Date. Screen_Shot_2020-07-15_at_1.54.13_PM.png

NOTE:   If you are attempting to enter a Close Books date but there are any invoices with dates on or before the Close Date you entered that haven't been sent to your accounting system, you will not be allowed to set the date.   You must first import those invoices and then you can set the Close Books date.


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