New to NetSuite | Locked Period vs Closed Period

In previous articles, we discussed the Accounting Periods feature and how to set them up. For this article, we will examine the difference between a locked period and a closed period. Many new users often find themselves confused about the distinction between these two. It is crucial for users to recognize the difference, as periods play a significant role in determining how transactions are posted.

The Manage Accounting Periods page is a list of all the accounting periods set up in your account and rolled up in the accounting period hierarchy to which they belong. Use this page to set up, view, and edit periods.