Fiscal periods are blocks of time that businesses use to track their finances, pay taxes, and prepare financial reports.

In Trimble Financials, the fiscal year runs from January 1 to December 31. This fiscal year is broken down into month-long fiscal periods.

At the end of each month, you'll be prompted to close the fiscal period. Closing a fiscal period locks your financial records for that timeframe so past numbers can't be accidentally edited or changed. You can continue to work without closing periods, but doing so ensures your financial data stays accurate. Once closed, fiscal periods can be reopened to correct any mistakes.

During guided entry, you cannot select date that falls in a closed fiscal period. If you enter a date in a closed period, you won't be able to move forward until choose a date within an open period. This applies to any guided-entry workflow with a business or transaction date, including billings, expenses, and journal entries.