Transactions from Creditors and Debtors will update G.L. account balances if the Creditors and Debtors periods are closed for a particular period, but the G.L. is still open for that period.

An issue can arise, particularly at the end of certain accounting periods — half year, year-end etc. — when Accountants and/or Auditors need access to the G.L. to make adjustments, but system to postings from Debtors and Creditors should not happen.

As an example, a system has the Debtors and Creditors periods as Closed = Current Year 02, Current = Current Year 03; G.L. Closed = Last Year 11, Current = Last Year 12.

If a transaction is entered in, e.g. Creditors in period 03 that has a posting period of Last Year 12, then this transaction will post (and depending on settings, could age) into the G.L. in Last Year 12. This would mean that the Creditors balances in Last Year period 12 would be different to what was reported at the end of period 12.

The Lock Current Period function prevents updating the G.L. from the Creditors and Debtors ledgers for the closed Debtor/Creditor period but leaves the period open for G.L. journals transactions to be entered.

Lock GL Period

1. From the Home Menu select . Financials > Accounting > General Ledger > Lock Period.

   1. Click the Home Menu to expand it:

      

   2. Click the Financials menu option to expand it:

      

   3. Click Accounting to go to the Accounting menu to expand it:

      

   4. Click General Ledger to go to the General Ledger menu to expand it:

      

   5. Click Lock Period to go to the Lock Period screen:

      

2. The Lock Period screen will display with the period that is currently locked, select the Lock Current Period check box.
3. To lock the period, click Save.

   

4. Click Exit to discard any changes.

   

Lock Current Period? (Check-box)

Select the check-box to lock the current period.

Locked Period (Dimmed, Display Only)

This field displays the period that is currently locked.

Period to Lock (Dimmed, Display Only)

This field shows the current G.L. period. When the system is advanced to G.L. current = Next Year Period 01, this field will change to Next Year01.

There are a number of rules relating to the setting of the locked G.L. period:

• Only the current G.L. period can be locked.

• For a G.L. period to be locked, the subsidiary ledgers (Debtors and Creditors modules) must be closed for the corresponding period. For example, to lock the G.L. for This Year period 12 then the Debtors and Creditors modules must both have that same period closed.

• Any Debtors and Creditors transactions which attempt posting into the locked period will posted to the next open G.L. period.