how to open accounting period per year

AI generated answer (using internal Slack threads):

To open accounting periods for a fiscal year in NetSuite, you would need to manually set them up. There is no known way to auto-generate them. This is typically a once-a-year task, and you can create as many periods as you like in advance. For example, you could have 3 years in advance open in order to post future-dated journals, etc. To close a year's Accounting Period, you would need to close each period one at a time, completing each period's closing checklist. There is no way to close all periods for a year at once. However, if the periods are for old financial years and there is nothing to post, you can quickly close them. If there are posted transactions in the periods, it is more rigorous to close them step by step. When posting time transactions, you would go to Transactions > Financial > Post Time. In the Posting Period field, you would select an open accounting period. NetSuite dates each created journal entry with the date of posting. Depending on your company's accounting settings, it may be possible to post time for transactions outside the selected period. ****** Disclaimer: This response was generated by an artificial intelligence assistant based on previous conversations from multiple Slack channels, and may contain inaccuracies or mistakes. ******