Month End

Finance > Periods shows each month for a billing entity with its status (open, soft closed or closed), the month-end checklist, and the close and reopen actions. Everything dated in a month (time, invoices, payments and expenses) belongs to that month’s period.

Closing periods needs the finance:close_periods capability. Reading the page needs period-closing, Finance settings, recognition, prices or invoice-issuing permission.

Time entries are only added while time tracking is enabled. Turning tracking off retains existing entries and their Finance history. See tracking settings.

The month grid

Months appear once time or billing is dated in them. Choose a month to see its detail. To close a month that has nothing dated in it yet, use Add month with the month and year.

Task completion now submits its recorded hours automatically. A submission refusal leaves a draft, and earlier drafts still need submission. If the checklist reports unsubmitted time on completed tasks, open My Time, resolve any refusal and submit those entries. Automatic approval does not submit existing drafts by itself.

Completion hours belong to the month of the completion date, even when the total exceeds 24 hours. To allocate effort across different work dates or months, record those dates in My Time instead of recording the same hours again at completion.

The checklist

Each month has a checklist with counts and links:

• Time not yet submitted
• Time waiting for approval
• Billing schedule items ready to invoice
• Approved work not yet invoiced, which you clear from Invoices
• Time without an FX valuation
• WIP adjustments not yet posted

The month-end panel also lists expenses waiting for approval, received purchase orders without a bill, old draft invoices, invoices not yet synced, payments not fully allocated and revenue recognition work.

Choose Open beside an outstanding item to see its review queue. Use Next and Previous to page through records, Open record to work on one, and Refresh queue after completing work. Close review returns you to the checklist. Your source permissions still apply: reading a checklist does not itself give you access to other people’s time, expenses or payments.

Most queues show the selected month. Ready billing schedules, old draft invoices and received purchase orders show outstanding work across all dates for the selected billing entity. The review states which scope applies. Opening a time approval reviews its weekly segment, which can contain other entries from that week. The recognition link selects the entity and month on Revenue.

An overpayment clears from the payment queue when its remaining client credit has been used or refunded. Open the client’s invoices and apply an available credit to an outstanding invoice. A received purchase order becomes outstanding again if its only bill is voided, including an order automatically closed by full billing. A manually closed order stays excluded.

Activating or delivering a budget makes its matching billing schedule items ready. Older missed activation or delivery triggers are checked overnight. Refresh the checklist after those actions or after drafting an invoice. See billing schedule rules.

When reviewing time on fixed items, check that the budget has positive estimated hours. The item’s fee is spread over those hours to value the approved work. Missing estimates need review on the budget before you rely on its usage figures.

An item is Clear when its count is zero. The checklist is computed when you open the month and again when you act on it.

Approved work not yet invoiced values the approved entries dated in the month using the same allocation rules as Uninvoiced work, in your reporting currency: it respects what each line sold, prices member-rate work at the rate it was approved at, and treats fixed-fee time as included in the fee. Where a budget has no exchange rate into the reporting currency it is counted and named rather than quietly left out, so the figure is never a mix of currencies.

Where available, Ru can show this checklist in the conversation with a source link back to the selected billing entity and period. The same access rules apply. Ru identifies hidden prices. An outstanding checklist item does not necessarily block closing; advisory work is separate from closing blockers. Reviewing it in chat does not submit time, approve records, close or reopen the period. See Finance with Ru.

Soft close, close and reopen

• Soft close (an optional reason): the month stays writable, but every change dated in it needs a reason and Finance is told. Runnit asks for that reason where you made the change and then does exactly what you asked. Organisations can soft close automatically on a chosen day of the following month (the Soft close day in Finance Setup).
• Close (an optional close note): rejects every write dated in the month until it is formally reopened. The checklist as it stood is kept with the close. You can close with items still outstanding; the confirmation says how many are not clear.
• Reopen (a reason is required): goes through approval when a policy requires it, and the month shows waiting for approval until it is decided. Corrections to a closed month are normally made in an open month rather than by reopening.

Each successful new close also saves the purchase accrual balances for that month, separately by currency. Accrued cost compares the saved balances with the current calculation. You need cost access to every contributing project and client to see those figures. Closing permission does not itself grant that access. The figures and live month-end summary refresh after a successful period action.

Repeating a close on an already closed month keeps its saved balances. Reopening keeps the previous balances until you close again, when they are replaced. If saving the balances fails, the month keeps its previous status. Any revenue recognition already completed before that failure remains posted. Older closed months without saved balances are not filled in automatically.

The period detail shows who soft closed, closed or reopened the month and when.

Moving or repricing approved time also corrects its recognised revenue, where applicable. The correction is recorded in the current open month while keeping the original work month for reference. Closed source, destination or correction months prevent the change. Review these corrections in Uninvoiced Work before closing. Reversing an approval also reverses its original currency value, so a later exchange-rate change does not leave revenue behind for work you have unapproved. The original work month stays attached even if the time was corrected more than once.

Current and saved checklist amounts require unrestricted organisation-wide price access. A project or client price restriction hides those amounts, even after reopening. Counts, status and review links remain available. If refreshing the checklist fails, its previous values are hidden until it loads successfully.

Months belong to a billing entity, so each entity closes its own September. Closing one entity’s month leaves work booked to another entity in that month open.

The month end panel

The month end panel helps you prepare the close. Its live brief needs unrestricted organisation-wide price access, with no project or client price restrictions. A grant for one project or client is not enough. Cost restrictions alone do not block the brief. If access is refused or a refresh fails, the previous brief is hidden until it loads successfully. Your permission to close the period remains separate.

• Revenue recognition for the month: how many entries the run posted and when it finished, or that it has not run. Lines whose inputs are incomplete are reported as not computable, with a count, and they stop the close until you fix them. See Revenue and WIP.
• What blocks the close lists what must clear, separately from Worth clearing first, which is advice you can close over.
• Invoices this month wants lists the drafts the month is expecting, so billing that belongs in the month is raised before it shuts.
• How the month moved shows opening balance, additions, releases, adjustments and closing balance. Any month where those do not reconcile is called out by name.
• What to do next turns the above into an ordered list of actions.

The close report and the export pack

The close report records the selected period’s figures with a generation number, the date it was frozen and its reporting currency. Reopening and closing again writes a new generation, and the earlier ones are kept rather than replaced, so you can always show what was reported at the time.

To download a report, open Finance > Periods, select the billing entity and month, then go to Close report in the month end panel. You need permission to close periods and view prices to see this panel. Reading the complete report and its history also requires unrestricted organisation-wide access to both prices and costs. A project or client restriction prevents access, even when that scope does not appear in the selected month. Downloads also require finance:export.

If report access is refused or the report cannot load, its saved details and download controls are hidden. The live brief uses the price-only requirement above. Your permission to close the period remains separate.

• Download close report PDF saves a summary of the recorded totals, checklist, accrued purchases, coverage and supporting register counts. The status recorded with the snapshot is shown when available; an older report without that evidence does not claim the month was closed.
• Download the export pack saves the supporting records as CSV files. Each filename includes the month and register, such as 2026-10-bills.csv or 2026-10-invoice-register.csv.

A missing reporting value is shown as incomplete coverage. Missing coverage evidence on an older report is not treated as complete. If PDF preparation fails, retry the download; the stored report remains unchanged. You can also retry a failed CSV pack download. Downloading a file does not email it.

When reviewing a newly created correcting journal, its account entries and movement totals reverse the original journal. The period’s recorded revenue and invoices stay unchanged, so its reconciliation can show a difference until the accounting correction is resolved. Previously exported records stay as recorded. Integrations can read and export saved journals.

The nightly review

Runnit reviews the books overnight and posts what it finds: figures that disagree, work that should have been billed, months that do not reconcile. The findings appear on the Finance overview, each with the day it was reviewed. Up to three also appear in Runnit Today after you complete or skip setup. Use the action link to open the work, or Dismiss when you have dealt with it.

Findings respect your access. If a finding is about something your access no longer covers, it is withheld. The Finance overview reports the withheld count; Today shows only available findings and stays empty when there are none.

Time at a month boundary belongs to the day in the organisation’s timezone. Recognition for a historical cutoff includes only eligible sources up to that day. See Revenue and WIP before comparing a mid-month run with the final close.

The month-end brief’s Close the period action opens this page with the billing entity and month selected. Review the checklist before confirming the close. Opening the link does not close the period.

Recovery evidence

The export pack includes receipt recoveries still open at period end, with the original receipt, reversal, currency and remaining balance. Dated cash reversals stay in their posting periods. A repayment recorded against a recovery is already allocated to that recovery and is not flagged as unallocated invoice cash. See Getting Paid.

Help from Ru

Ask Ru to explain this workflow, inspect records you can access, or carry out supported steps when you authorise them. Your permissions and approval rules still apply. See Finance with Ru.

Switching billing entities

On Finance > Periods, use Billing entity to change the month grid and checklist. Runnit clears the previous selection and any open close or reopen prompt. The selector is unavailable while a period action is running.

The unsynced invoice check counts issued documents. Invoices awaiting approval or approved but not issued are excluded from this check.

Approved time with missing currency evidence remains unvalued after a rate correction. Review and reapprove that work while its period is writable before relying on the report. See recorded time values.

Purchase cost includes received but unbilled work. A bill replaces that receipt cost, and a void reverses it on the selected date. Late self-billing relieves time cost in the bill month while preserving the original work month. See Finance Reports.