The New Period Procedure should be carried out on the last trading day of the Month. It can be done prior to printing statements and month end reports since part of the proceedure makes a copy of the system as at the end of the month which you can accessed any time later, to print reports and statements from.

Because the General Ledger can be run in a separate date the Month End procedure will not affect the General Ledger, you can run your reports and finalise transactions within the General Ledger at a later date. When finalising the General Ledger for the year the only task is to transfer the stock balance from the closing to the opening stock account. As above this can be done when you have finalised your accounts.

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