This manual has been compiled to show the various ways of locking or ending a period in ERPLY Books. We advise you to lock a certain period, when you’ve done its’ accounting correctly and don’t want to make any changes to it. You can lock a whole period, certain accounts, invoices or entries. But if you’ve done all the accounting of the year under review and submitted needed reports, then you can end it also in ERPLY Books. All the aforementioned is easily reversible.
1. Locking the data
We advise you to lock the data, when you’ve done everything correctly and don’t want any changes happening to it. You can always unlock the data by either changing the date of locking or changing the status of a transaction. Locking the data will not end a period.
1.1. Locking a period
You can lock all the data on the page Settings → Configuration, from the cell ‘Period is locked since:’.
What this means, is that every transaction, that has a date before the set date of locking (including the date of locking itself), cannot be edited. Basically, you can’t edit anything before that date (and also including the date itself). If you try editing something in the locked period, you’ll receive an error.
If you need to make changes to a transaction in the locked period, you should change the date of locking, save the changes, refresh your browser (for the changes to take effect) and then you can edit the transaction (which should now be out of the locked period). I.e. Period is locked until 31.12.2015, but you need to change a transaction, which has been made on 01.09.2015. You should set the date of locking to be 31.08.2015 and save. If you’ve made the changes and still need the year 2015 to remain locked, you should change the date of locking once more.
1.2. Locking an account
You can lock the accounts on the page Accounting → Chart of Accounts, from the cell ‘Period Locked Since’.
You can add a locking date to each account, up to which the account is locked (including the date itself). If You want to unlock it, then you’ll have to change the date. Always click save, when you’ve made changes.
1.3. Locking an invoice
If You want to lock an invoice, open it, find from the Additional Information section cell Document Status and choose ‘Locked’.
If you lock an invoice, then this action closes automatically all transactions related to it. If you want to change something on the locked invoice, just change the status of the document from locked to ‘Confirmed and opened’. Always save, when you’ve made changes.
- Can you set the Additional Information section to be open when you go onto an invoice?
By default, you can open that section manually from the arrow next to it. If you want it to be open every time You create/open an invoice, then go to page Settings -> User Settings, tick the box after ‘Show Extra Information Bar?’, save and refresh your browser. Then the Additional Information section will be open every time you go onto an invoice.
1.4. Locking a transaction
You can see all the transactions on the page Accounting → Transactions or access the transactions of a specific invoice, when marking the invoice and clicking on ‘More’ from the lower panel. You can lock a transaction by choosing ‘Locked’ from the Status cell on the open transaction.
If you want to change a locked transaction, then change the status from locked to ‘Confirmed and opened’. Always save, when you’ve made changes.
2. Ending a period
We advise You to end a period when You’ve completed it, handed in necessary reports and are starting a new period. Then You can end it also in ERPLY Books and start with a new one. Ending a period means ending the year under review.
This function can be found from the Main Page’s search box, if you search for ‘Year-End Closing’. A new window will open, where you’ll have to choose the year, which you wish to end, click on OK and ERPLY Books will do everything else for you.
- How does ERPLY Books end a year?
ERPLY Books will render the balances of all the accounts to zero and calculate the profit according to incomes and expenses. The profit will remain on the net profit/loss account, because it is in the hands of the company’s leader or accountant to move the outcome to a suitable account.
The transaction of the year-ending looks as follows:
DR: Net annual profit
CR: Retained earnings
If You wish to reverse the year-ending, go to Accounting → Transactions, search for the closing transaction (by the type) and delete it.