Many businesses are required to produce month-end reports. It’s important that no new costs or expenses are posted to that G/L period after these reports are submitted. If that were to happen, the reports would no longer accurately reflect the month’s activity.
Abio allows you to close the month for each of the subsystems independently. When you do this, money can no longer be recorded as owing or paid in the month you’ve just closed, other than with journal entries.
You can find more detailed information about this process as it pertains to each subsystem: payroll, payables, and receivables.