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.

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.

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.

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.

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.

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

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

Beside the checklist, the month end panel is the close itself rather than a summary of it.

• 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. Downloads also require finance:export and organisation-wide access to both prices and costs.

• 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.

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. Downloading a file does not email it.

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.