Reversing a Closed Period

Sometimes you need to make corrections to a closed period. Bamboo allows authorized users to reopen closed periods.

When to Reopen

Reopen a period only when:

• ✅ Significant error discovered
• ✅ Audit adjustment required
• ✅ Legal/regulatory requirement
• ✅ Approved by management

Caution

Reopening periods should be rare. Consider if the adjustment can be made in the current period instead.

Who Can Reopen?

Typically restricted to:

• Organization owners
• Administrators

Reopening Process

1. Navigate to Period Close

   Go to Reports → Period Close from the sidebar.

2. Find the Closed Period

   Scroll down to the “Closed Periods” section to locate the period that needs reopening.

3. Click “Reverse”

   The reverse button (↩️) appears next to closed periods within the grace period.

4. Provide Reason

   Enter the reason for reopening (required for audit trail):

   • What error was discovered
   • Why it can’t be adjusted in current period
   • Who authorized the change

5. Confirm

   Click “Reverse Close” to acknowledge the implications and confirm.

What Happens

When you reopen a period:

1. Status changes back to “Open”
2. Posting allowed - Entries can be made again
3. Event recorded - Full audit trail of who, when, why
4. Reports update - Historical reports reflect new data

After Making Corrections

Once corrections are complete:

1. Review changes - Verify the corrections are accurate
2. Update Trial Balance - Ensure books still balance
3. Close the period again - Re-finalize when done
4. Document thoroughly - Note all changes made

Impact on Reports

Note

Reopening and adjusting a past period changes historical reports. Anyone who printed reports before the change will have different numbers.

Consider:

• Notifying stakeholders of the change
• Reprinting affected reports
• Documenting the before/after

Alternative: Current Period Adjustment

Often, you can avoid reopening by:

1. Prior period adjustment - Record in current period with clear description
2. Reference original - Note what you’re correcting
3. Disclose - Financial statements note the adjustment

This keeps closed periods locked while still correcting the numbers.

Audit Trail

The reopen creates a complete record:

Information	Captured
Who reopened	User ID and name
When	Timestamp
Why	Reason provided
Original close	When it was first closed
Second close	When closed again

Best Practices

1. Document thoroughly - Future auditors will ask questions
2. Get approval - Written approval before reopening
3. Limit access - Only senior staff should have this ability
4. Close quickly - Don’t leave reopened periods open long
5. Consider alternatives - Current-period adjustments when possible