Posting period
A posting period is a clearly defined period of time in which business transactions are recorded and evaluated in financial accounting. It is used to separate postings accurately by time and to present results for a specific period in a traceable way. Posting periods are usually part of a fiscal year and can, depending on the settings, be open, blocked or closed. This is important so that postings are not entered in the wrong period by mistake and reports such as the annual financial statements remain reliable. This allows companies at month end to control which postings still belong to the current period and which should only be taken into account in the next one.