Accounting period reopening should follow an authorised review when software has already locked the period. Identify why access is needed and preserve the existing reports before any posting changes. A user being able to unlock a month does not determine whether the company should alter its approved figures.

Accounting records, calculator and glasses on a desk
Illustrative photograph by Cht Gsml.

Define the required action

Record the company, accounting period, affected entry and reason for the proposed change. Distinguish correcting an entry from obtaining a read-only report or adding a supporting attachment.

Ask the accountant whether reopening is necessary and which wider reporting or filing questions the change may create. Do not unlock an entire year merely because a user cannot edit one field.

Preserve the pre-change position

Retain the accepted trial balance, relevant schedules and report versions securely. Record who approves the action, who will make the change and who will review it.

Keep earlier approved and filed versions identifiable. A revised report should not overwrite the evidence of what directors, auditors or a tax agent previously received.

Example: a reviewer proposes a reclassification

An accountant proposes moving an amount between accounts in a locked period. Confirm the exact journal, approval and report effect before changing access. A proposal to reclassify one balance is not authority to make unrelated postings throughout the reopened period.

Review and close again

Retain the actual changes, their support and the resulting reconciliation. Confirm any separate report revision or filing action through its appropriate process. Restore the agreed period controls after review. Treat system access, accounting treatment and approval of downstream corrections as separate decisions, each with a traceable owner.

Related practical guidance

For the surrounding records and responsibilities, see bookkeeping basics, company records to keep, bookkeeping and accounting.

Official guidance: IRAS official guidance.

Help with your company records

For accounting, bookkeeping and related compliance support, contact Raffles Corporate Services at [email protected] or WhatsApp +65 8501 7133. Tell us which records or process need attention so we can discuss the relevant next steps.