The system doesn't automatically lock accounting to give you flexibility. When you are ready to close a day, week or month, simply lock the period mannualy.
What locking freezes
Locking freezes invoices, journal entries, purchases, cost prices, and payments. From the moment a peiord is locked, any operations affecting the past accounting that occur will be reverse or reflected on the day they are modified and not in the past.
Before you lock
Run your reports or check your chart of accounts, without locking anything. Do your checks, balance the cash register, and make sure everything is right. Export to your accounting software. Lock last. When you lock you'll be able to see the period locked in the export pop up of your end of day report as well as your chart of accounts.
Way 1: From the end-of-day report
- Open Reports and, on the End of Day row, click Multiple formats to open the End of Day Report window.
- In Branch, choose your branch. It defaults to All branches, so always set it before you export.
- In Mode, choose the period you are closing. It defaults to Single day, with a calendar to pick the date.
- Tick the box Close the accounting period covered by this report. It is unticked by default.
- Choose a Format and click Export.
If you leave the box unticked, exporting closes nothing and the report is marked provisional. If you tick it, exporting closes the books through the end of the period, or through the current time if the period is not over yet. Every entry in the period is first checked against the chart of accounts: if a single account disagrees, nothing is closed and no report is produced.
Way 2: From the chart of accounts
- Go to Accounting > Chart of Accounts and set its dates to the period you want to close. See Use the chart of accounts.
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Click Close period, at the top, next to Add Account. This closes the period covered by the dates you set.