| Lost password | Request login credentials

Knowledgebase: General Ledger
What does “locking” a General Ledger period do?
Modified on 26 November 2012 03:22 PM
What does ‘Locking’ the General Ledger period do? 

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.

Why would I Lock the General Ledger?

This is done so that you can continue entering transactions via journal directly into the General Ledger for the locked period.

When should I Lock the general Leger?

While not compulsory, the General Ledger should be locked as soon as possible after the subsidiary ledgers for the same period have been closed.

What happens if I don’t lock the General Ledger?

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.  

(0 vote(s))
Not helpful

Comments (0)