Closing and Locking Periods

Closing a period prevents new reconciliations from being started but allows reconciliations that are in progress to be completed and actions can be taken on the reconciliation including data load.

Locking a period prevents changes to reconciliations for the period. Notifications continue to run when a period is closed but not if it is locked and it also prevents Transaction Matching transactions from being loaded that have an Accounting Date that is less than or equal to the locked period’s End Date.

You can close or lock one or more periods at the same time.

Note:

You can use the filter bar to narrow the list of periods if you are working with large lists of periods.

Closing Periods

To close one or more periods:

  1. From Home, select Application, then Periods.

  2. Select one or more periods.

  3. Use the Set Status drop down list, and then select Closed.

Locking Periods

To lock one or more periods:

  1. From Home, select Application, and then Periods.

  2. Select one or more periods.

  3. Use the Set Status drop down list, and then select Locked.

Lock Through Date in Transaction Matching

If you are using either the Account Analysis with Transaction Matching or the Balance Comparison with Transaction Matching formats, the matching activities for the profiles will be restricted for locked periods and have a "Locked Through Date".

The period end date for the latest locked period is the "Locked Through Date". Periods can be locked or unlocked in any order and there can be unlocked periods between locked periods. Therefore, the locked through date will be based on the latest locked period.

Note:

Transaction Matching Only profiles will not have a locked through date.

Here's an example of a Locked Through Date of 31-Mar-2018.:

Period Start Date End Date Lock Status
Jan 18 Jan 18 31-Jan-2018 Locked
Feb 18 01-Feb-2018 28-Feb-2018 Locked
Mar 18 01-Feb-2018 31-Mar-2018 Unlocked

In the above example, if the user locks the March period, the "Locked through date" will be 31-Mar-2018.

If the user unlocks February, the "Locked through date" will continue to be 31-Mar-2018.

Restrictions for Transaction Matching Transactions

If you try to perform any of the following actions and the Accounting Date for Transaction Matching transactions is before the "Locked Through Date", you will receive an error message that the Administrator needs to unlock the period(s):

  • Import Transaction Matching transactions
  • Delete Transaction Matching transactions
  • Unmatch a matched set that has an adjustment
  • Delete Support details from transactions
  • Edit a Transaction's Accounting Date or Balancing Amount

If you try to perform any of the following actions on a closed reconciliation, and the Accounting Date for Transaction Matching transactions is after the "Locked Through Date" you will receive a warning message prompting you to confirm if you want to reopen the reconciliation:

  • Delete Transaction Matching transactions
  • Unmatch a matched set that has an adjustment
  • Delete Support details from transactions
  • Edit a Transaction's Accounting Date or Balancing Amount

Note:

Import of Transaction Matching transactions automatically reopens the reconciliation with no warning confirmation message.