Skip to content
Create account
or
Sign in
The Stripe Docs logo
/
Ask AI
Create account
Sign in
Get started
Payments
Finance automation
Platforms and marketplaces
Money management
Developer tools
Get started
Payments
Finance automation
Get started
Payments
Finance automation
Platforms and marketplaces
Money management
Overview
Billing
Tax
Reporting
    Overview
    Select a report
    Filters and settings
    Categories and types
    Connect an accounting tool
    Reports API
    Reports for multiple accounts
    Revenue recognition
      Get started
      How Revenue Recognition works
      Data freshness
      Pricing
      Multi-currency
      Connect platforms
      Revenue Recognition for Usage-Based Billing
      Revenue contracts
      Reports
      Overrides
      Audit your numbers
      Examples
      Revenue recognition rules
      Revenue Recognition settings
        Accounting period control
        Examples
      Map to your chart of accounts
      Performance obligations API
      Import data to Stripe
      Export data from Stripe
    Bank reconciliation
Data
Startup incorporation
HomeFinance automationReportingRevenue recognitionRevenue Recognition settings

Revenue Recognition accounting period control

Learn how to configure accounting periods for your Revenue Recognition.

Copy page

Accounting period control allows you to configure how to close accounting periods. You can either manually close the books with all checks and adjustments finished each month, or you can let Stripe automate closing the books.

You can also reopen past accounting periods using accounting period control. This is useful when you first start using Revenue Recognition because it allows you to make adjustments to past data without creating corrections in the current period. For example, when you apply rules to fit Revenue Recognition with your own business model, it’s likely to change the history of closed accounting periods. You can decide on whether to reopen the closed accounting periods or make adjustments in the current accounting period.

Setting accounting periods

You can find the accounting periods section on the Revenue Recognition controls page.

Accounting periods controls

Select the mode for accounting periods

To get started, select the mode for your accounting periods. The default is automatic.

ModeDescriptions
AutomaticAccounting periods automatically close at the end of each month.
ManualYou control when to close the accounting periods.

Choose the latest closed accounting period in manual mode

When you set latest closed accounting period, you close the selected accounting period along with all previous accounting periods, and you open all following periods. You can choose one of the periods in the past 24 months, and you can also choose no closed accounting periods. For example, when you choose the latest closed accounting period to be February 2021 in manual mode, the accounting periods looks like the following example:

Before Jan 2021Jan 2021Feb 2021Mar 2021Apr 2021May 2021Jun 2021
ClosedClosedClosedOpenOpenOpenOpen

How accounting period control works

Controlling closing process for your accounting period cycle

Accounting period control allows you to configure the closing process with your own workflow for the accounting period cycle. You can choose the manual mode, and check all terms and fix the human errors before closing the accounting periods manually, or you can automate closing your Revenue Recognition book using the automatic mode.

Getting started with Revenue Recognition

If you’re new to Revenue Recognition, use accounting period control to get started. For example, when you apply rules to fit Revenue Recognition with your own business model, you can set manual mode with no closed accounting periods. In this way, all the changes go into the original accounting periods, which can help you understand your books.

You can open accounting periods after setting revenue recognition rules, unless you need to issue corrections. In that case, you must close the accounting period before setting any rules.

Adjustments for accounting periods take up to 24 hours to complete. When completed, you can see the setting in monthly summary charts and CSV-only reports in the Dashboard. For example, when you choose the latest closed accounting period to be February 2021 in manual mode, the charts and reports look like the following example:

Revenue chart with manual mode and latest closed accounting period as February 2021
Income statement report with manual mode and latest closed accounting period as February 2021
Was this page helpful?
YesNo
Need help? Contact Support.
Join our early access program.
Check out our changelog.
Questions? Contact Sales.
LLM? Read llms.txt.
Powered by Markdoc