# Month-end close, period locking & year-end close

**Category:** [Accounting](https://help.totalctrl.app/hc/totalctrl/totalctrl-help-center/en-US/categories/accounting)
**Updated:** 2026-08-19

The *Accounting → Month-End Close* page walks you through closing a period.
## The close checklist

Pick a period and review the advisory checklist: all bank lines reconciled, trial balance in balance, and open A/R & A/P reviewed. It also shows the period's revenue, expenses and net income.
## FX revaluation

If you hold open foreign-currency balances, click **Revalue open balances** to restate them to the period-end rate and post the unrealized FX gain/loss.
## Lock the period

Click **Lock period** to lock the books through the period-end date — after that, no journal entry can be posted on or before that date, which prevents backdated edits. You can unlock if you need to.
## Year-end close

Use **Close fiscal year** to post a closing entry that rolls the year's net income into Retained Earnings.

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## Related Articles

- [Payroll: connect Gusto or record runs manually](https://help.totalctrl.app/en-US/articles/payroll)
- [Sales tax: rates and the tax report](https://help.totalctrl.app/en-US/articles/sales-tax)
- [Accounting overview](https://help.totalctrl.app/en-US/articles/accounting-overview-1)
- [Create and send an invoice](https://help.totalctrl.app/en-US/articles/create-an-invoice)
- [Creating and Sending Invoices](https://help.totalctrl.app/en-US/articles/creating-and-sending-invoices)

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