Knowledgebase: General Ledger
What does “locking” a General Ledger period do?
Modified on 26 November 2012 03:22 PM
|
|
Locking’ the General Ledger prevents transactions which are raised in a subsequent period in the subsidiary Ledgers from posting to the locked General Ledger period. This is done so that you can continue entering transactions via journal directly into the General Ledger for the locked period. While not compulsory, the General Ledger should be locked as soon as possible after the subsidiary ledgers for the same period have been closed. Booking-related transactions entered in subsequent periods at the sub-ledger level, but which relate to bookings travelling in the unlocked period will be allowed to post backwards to the Revenue and Expense accounts. | |
|
Comments (0)