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# Create an accounting period and run trial balances

> Learn how to create individual accounting periods for each organizational unit and run trial balances for open periods.

Learn how to create individual accounting periods for each organizational unit and run trial balances for open periods.

Each org. unit in a multi-org. environment transacts as an individual business unit. Therefore, users must create individual accounting periods for each organizational unit. When a new org. unit is created within the org hierarchy, an open-ended accounting period is automatically created for each new org unit. Users can later create an accounting period for the org unit based on their access permission.

> **Note**
>
> The accounting periods of all the child Org Units should be closed before closing the accounting period for the parent Org Unit.

1. Set up accounting periods See Set up accounting periodsto learn more.
2. In the **Company** field, select the org. unit to create an accounting period.

You can run trial balances only for open accounting periods.

To run a trial balance proceed the following steps:

> **Note**
>
> You can run trial balances only for open accounting periods.

Navigate to **Finance > Accounting Periods.**

Run a Trial Balance. Follow the steps mentioned in Run a Trial Balance.