> ## Documentation Index
> Fetch the complete documentation index at: https://docs.vinmake.com/llms.txt
> Use this file to discover all available pages before exploring further.

# Period Close & Reporting

> Close fiscal periods, run the trial balance, and generate management accounts

# Period Close & Reporting

Period close is the routine of finalizing a fiscal period: post every sub-ledger, reconcile cash, verify the trial balance, review management accounts against budget, then lock the period so no further postings land in it.

## The Close Flow

```mermaid theme={null}
flowchart LR
  Sub[Post AP / AR sub-ledgers] --> Recon[Reconcile bank statements]
  Recon --> TB[Trial Balance]
  TB --> Mgmt[Management Accounts and Budgets variance]
  Mgmt --> Close[Close Fiscal Period]
```

```mermaid theme={null}
sequenceDiagram
  participant Accountant
  participant GL
  participant FiscalPeriod
  Accountant->>GL: Confirm all bills, invoices, payments posted
  Accountant->>GL: Run trial balance
  GL-->>Accountant: Debits equal credits
  Accountant->>GL: Generate management accounts vs budget
  Accountant->>FiscalPeriod: Close period (lock postings)
  FiscalPeriod-->>Accountant: Period locked
```

## 1. Confirm Sub-Ledgers Are Posted

Before closing, make sure all [bills](/finindex/finance/accounts-payable) and [invoices](/finindex/finance/accounts-receivable) for the period are posted and payments confirmed. Reconcile bank statements so cash agrees with the GL.

## 2. Run the Trial Balance

Verify total debits equal total credits as of the period end.

```bash theme={null}
GET /api/v1/gl/trial-balance
Authorization: Bearer <access_token>
```

## 3. Review Budgets & Management Accounts

Compare actuals against budget to surface variances before locking the books.

```bash theme={null}
GET  /api/v1/budget
POST /api/v1/budget
GET  /api/v1/management-accounts
POST /api/v1/management-accounts
GET  /api/v1/gl/management-pnl
Authorization: Bearer <access_token>
```

<ParamField body="period" type="string" required>
  Fiscal period the budget applies to (e.g. "2026-03")
</ParamField>

<ParamField body="account_code" type="string" required>
  GL account the budget line targets
</ParamField>

<ParamField body="amount" type="number" required>
  Budgeted amount for the period
</ParamField>

The **management P\&L** (`/api/v1/gl/management-pnl`) renders actuals grouped by management account so you can read variance against budget line by line.

## 4. Exchange Rates

For multi-currency books, confirm period-end exchange rates are loaded before revaluing foreign-currency balances.

```bash theme={null}
GET  /api/v1/exchange-rates
POST /api/v1/exchange-rates
GET  /api/v1/exchange-rates/pair/:org_id/:base_currency/:target_currency
Authorization: Bearer <access_token>
```

## 5. Close the Fiscal Period

Closing locks all postings dated within the period. List and create periods via the GL [fiscal-periods](/finindex/accounting/general-ledger) endpoints.

```bash theme={null}
GET  /api/v1/gl/fiscal-periods
POST /api/v1/gl/fiscal-periods
Authorization: Bearer <access_token>
```

<Warning>
  Once a fiscal period is closed, postings dated within it are rejected. Use a [reversing journal entry](/finindex/accounting/journal-entries) in an open period to correct prior-period errors.
</Warning>

<Info>
  See the **API Reference** tab for the full list of budget, management-accounts, exchange-rate, and fiscal-period endpoints.
</Info>