The Close Period menu opens month-end, quarter-end, and year-end close options.
What this screen is for
Use Close Period for controlled finance close activities.
Month-End Closing runs operational month-end routines. Quarter-End Closing is the current workflow that finalizes fiscal balances, seeds the next fiscal period, and locks the selected period against new journal entries. Year-End Closing is visible in the menu but is not implemented yet.
Screen path
Dashboard > Finance > GL & Close > Close Period
Closing type menu
Close Period opens Select Closing Type.
| Option | Current behavior |
|---|---|
Month-End Closing |
Opens customer activity review, monthly depreciation posting, and inventory average monthly usage recalculation. |
Quarter-End Closing |
Opens fiscal period close preview and close action. |
Year-End Closing |
Opens a message that the feature is not yet implemented. |
Month-End Closing
Month-End Closing defaults customer activity and inventory average monthly usage to the prior calendar month. The screen does not provide one single "close month" action. It provides separate month-end routines.
Customer Activity Review
Customer Activity Review analyzes customer active/inactive status using order and invoice activity through the final day of the prior calendar month.
The screen includes:
Inactivity Period (months), defaulted to 36.Analyze Customer Activity.- Analysis results with active customers, new customers in the closing month, customers to deactivate, customers to activate, churn rate, total customers evaluated, and customers missing a Customer Since date.
Update Customer Statusafter analysis results are shown.
The churn rate formula shown on screen is:
Customers Being Deactivated / (Active Customers - New Customers in Closing Month) x 100
Monthly Depreciation Posting
Monthly Depreciation Posting posts monthly depreciation journal entries for all eligible active depreciation assets.
The user selects the month to post in YYYY-MM format, then selects Post Monthly Depreciation.
Successful posting shows the selected month, journal entry count, total amount, assets posted, and any assets skipped because they were already posted for that month.
Inventory Average Monthly Usage
Inventory Average Monthly Usage recalculates average monthly usage for all active parts based on the 12 completed months ending with the closing month.
Select Recalculate Average Monthly Usage to update inventory forecasting and reorder point inputs.
Quarter-End Closing
Quarter-End Closing loads open fiscal periods and defaults to the most recently ended open period when one exists.
The preview shows:
- Period being closed.
- Number of accounts included.
- Next fiscal period that will receive opening balances.
- Closing balance totals by account type.
- Bank reconciliation warnings, when applicable.
Closing the period locks it against new journal entries and carries account balances forward as opening balances for the next period.
PAX blocks close when a bank reconciliation is in progress for the selected period. PAX also requires the next fiscal period to exist before closing.
Year-End Closing
Year-End Closing is visible in the menu, but the current screen displays that the feature is not yet implemented.
What happens behind the scenes
Opening Close Period does not change records.
| Action | System effect |
|---|---|
Analyze Customer Activity |
Reviews customer activity through the closing month and records churn analytics for the analysis date. |
Update Customer Status |
Updates customer active/inactive flags based on the analysis rules. |
Post Monthly Depreciation |
Creates depreciation journal entries for eligible assets that have not already been posted for the selected month. |
Recalculate Average Monthly Usage |
Updates average monthly usage for active inventory parts using the trailing 12 completed months. |
| Quarter close preview | Reads fiscal balances, journal activity, next period information, and bank reconciliation status without closing the period. |
Close in Quarter-End Closing |
Writes closing balances, inserts missing fiscal balance rows for accounts with activity, seeds next-period opening balances, and marks the selected fiscal period closed. |
Troubleshooting
Customer activity results include customers missing Customer Since
Likely cause: Those customer records do not have a Customer Since date, so PAX cannot evaluate inactivity as reliably.
Safe fix: Review the customer records before updating customer status.
Contact support if: Customer Since is populated but the customer still appears in the missing list.
Depreciation posting says assets were skipped
Likely cause: Those assets already have depreciation posted for the selected month.
Safe fix: Review Depreciation Overview and Journal Entries Overview before attempting any correction.
Contact support if: The posted status appears wrong.
Quarter close is disabled or blocked
Likely cause: A preview is still loading, no preview is available, or a bank reconciliation is in progress for the selected period.
Safe fix: Complete or delete any in-progress bank reconciliation for the period, then reload the preview.
Contact support if: No in-progress reconciliation exists but close remains blocked.
Quarter close fails because the next period does not exist
Likely cause: PAX cannot seed opening balances because the next fiscal period has not been created.
Safe fix: Have the next fiscal period created before closing.
Contact support if: The next period exists but PAX does not recognize it.