In NetSuite, when a period status is “Closed” no transactions can be posted to any date within the period by anyone (including administrators). If a period that has been closed requires later changes, you must reopen the period before these changes can be completed.
Note: You must have the Override Period Restrictions permission to reopen a period.
Here is how to reopen an accounting period:
- Go to Setup>Accounting>Manage Accounting Periods
- Click the checklist button of the period you would like to reopen.
- On the Period Close Checklist page, click the arrow icon for the Close task.
- Click the green arrow on the “Close” line.
5. Here you can click the “Reopen Period” button. Note that the system will ask you for a justification for reopening the period. Fill in your reason.
6. Enter text in the Justification field to explain why you are reopening the period, click Reopen Period again, and review the warning text to make sure you understand the following:
If you reopen the period, you may need to redo checklist tasks to close the period. Also, any later closed periods are automatically reopened and you may need to redo checklist tasks for those periods as well before you can close them.
7. If you want to continue, click OK in the warning dialog.
The justification text is saved in a user note.
Here, This is way to Reopen the accounting Period.